Trump Says US and China Looking for New Site to Sign Trade Deal – Wall Street Journal
President Trump said China and the US are in the process of selecting a new site to sign what he has called phase one of a broader trade agreement between the two countries.
British Election Campaign Kicks Off on No-Brexit Day – Reuters
On the day Britain was supposed to have left the European Union, voters instead faced the start of an election campaign, with opposition Labour leader Jeremy Corbyn pledging to overthrow a “rigged system” he said was run by billionaires and tax dodgers.
- Pound Sets Strong Month in Run-Up to Election – Financial Times
- Here Comes the Brexit Election – The Economist
- Johnson Taking ‘Enormous Gamble’ in Hoping Brexit Gains will Balance Out Remain Losses – Daily Telegraph
- Brexit Deal ‘Precludes’ US-UK Trade Agreement – Politico
General Motors Strike Looms Over US October Job Growth – Reuters
US job growth likely slowed sharply in October, weighed down by a strike at General Motors, while the unemployment rate is expected to tick up from near a 50-year low of 3.5%.
How ECB Hopes ‘Tiering’ Eases Pain of Negative Rates – Bloomberg
In September, the European Central Bank has doubled down on its negative interest rates, a policy meant to stimulate the economy by charging banks billions of euros for money they’re not lending out.
Negative Interest Rates ‘Essential’ for Swiss Economy, Says Central Banker – Financial Times
Negative interest rates are “essential” for the Swiss economy and will not be reversed without a significant change in global economic conditions, Thomas Jordan, head of the Swiss National Bank, warned.
Lagarde Starts Term at ECB Awaiting Female Reinforcement – Bloomberg
The European Central Bank starts a new era on Friday when Christine Lagarde becomes the institution’s first female president – and for now its sole female policy maker.
Pelosi: US House Close to Approving Trade Deal with Mexico, Canada – Reuters
The U.S. House of Representatives is making progress every day toward approving the trade agreement President Donald Trump worked out with Canada and Mexico, Speaker Nancy Pelosi said.
Voices of Europe: How Mario Draghi’s Tenure is Viewed Across the Region – Financial Times
Mario Draghi’s eight-year tenure at the European Central Bank has radically shaped the eurozone’s economy and financial markets — but it also profoundly changed the lives of many citizens in the single currency area.
Japan Finance Minister Aso Sees No Need Now for Economic Stimulus – Reuters
Japanese Finance Minister Taro Aso said on Friday he saw no need now to compile stimulus measures to prop up the economy, brushing aside a media report that the government was considering such a plan.
Derivatives to Crash Markets Again? – Financial Times
It is never a good sign when arcane money market mechanisms become interesting to anyone other than the geeks who operate them. That is what has happened to the US repo market since September 17, when the normally placid business of short term borrowing against “general collateral”, ie, high-quality securities, started a period of spiky interest rates, noticeable spreads between rates offered to different institutions, and hasty, large scale interventions by the Federal Reserve.
Asia’s Factory Pain Deepens on Trade War, Global Slowdown – Reuters
Asia’s export powerhouses saw factory activity shrink further in October, as cooling global demand and trade tensions keep policymakers busy ramping up support for their fragile economies to help dodge recession.
UK Will Not Appoint New BoE Chief Before December 12 Election: Official – Reuters
Britain’s government will not name a successor to Bank of England Governor Mark Carney before a national election due on Dec. 12, a finance ministry official said.
CFTC Set to Eliminate Post-Trade Name Give-Up – Risk
Practice has been a mainstay of Sef trading but chairman Tarbert wants it gone.
JPMorgan Has Solution for Powell That Will Free Up Banks’ Cash – Bloomberg
The Federal Reserve could design a permanent tool that would unlock “a significant fraction of cash” currently held by larger banks and prevent funding stresses, according to analysts at JPMorgan Chase & Co.
Better Risk Reporting Doesn’t Need an IT Upgrade – Risk
By revisiting certain calculations, new insights into risk and profit drivers can be gained with minimal extra work.
Is China Throwing Its Weight Behind Blockchain? – Bloomberg
Here’s a surprising sentence: the Politburo of the Communist Party of China held a special meeting to learn more about blockchain.
Forget the Halving – Could This Be What Sends Bitcoin Soaring Next Year? – Forbes
Bitcoin and cryptocurrency market watchers have been eagerly awaiting next year’s bitcoin halving–something that many think could boost the bitcoin price.
Bitcoin Price Slides 2% After Deribit, Coinbase Flash Crash – Coin Desk
Another flash crash has occurred for bitcoin, this time appearing on the Coinbase Pro and Deribit exchanges.
The Stablecoin Anathema – Financial Times
The rise and popularity of stablecoins is subjecting the crypto world to mass cognitive dissonance.
Siemans Gamesa Goes Green With FX Hedging – Profit & Loss
Siemens Gamesa Renewable Energy says that it has arranged ”sustainable” FX hedging contracts, totalling €174 million, with BNP Paribas.
Singapore Exchange Has Potential Billion-Dollar-Deal War Chest – Bloomberg
Singapore Exchange Ltd. can explore a billion dollar’s worth of deals should it go ahead with a plan to tap debt for the first time since its initial public offering in 2000.
Stock Exchange Backed by Virtu and Citadel Moves Closer to Launch – Financial Times
Members Exchange, a new stock market backed by some of the biggest names on Wall Street, cleared an important regulatory hurdle on Thursday, bringing it closer to competing with the likes of the New York Stock Exchange and Nasdaq.
Nomura Makes Algos Available on BidFX – Profit & Loss
Nomura has made its five FX algorithmic strategies available on the BidFX platform.
Why the RBA Will Keep Cutting Rates – Australian Financial Review
After three years of inertia, a new intellectual paradigm has emerged from within the Reserve Bank of Australia.
Hank Paulson on the Shocks of the New Economy – Bloomberg Businessweek
Perhaps you’ve noticed: The world isn’t in especially great shape.
World Looks Bleak Through the Lens of a Rates Options Trader – Bloomberg
The volatility market shows investors see a sour global economic outlook, with hedges against a prolonged US downturn and options bets on negative Federal Reserve rates.
Trump Bets on Fed Cuts to Help the Dollar. Don’t Count on it – Reuters
US President Donald Trump says further Federal Reserve rate cuts would lower the value of the dollar and help the country’s trade position.
The Fed is Bullish on Risks, but that Doesn’t Mean You Should Be – South China Morning Post
The Fed thinks the US-China trade war and Brexit risks have receded. Investors should avoid making the same mistake.