Tsipras Resigns, Paving Way for Snap Greek Election – Reuters
Prime Minister Alexis Tsipras resigned on Thursday, hoping to strengthen his hold on power in snap elections after seven months in office in which he fought Greece’s creditors for a better bailout deal but had to cave in. Government officials said the aim was to hold the election on Sept. 20, with Tsipras seeking to crush a rebellion in his leftist Syriza party and seal public support for the bailout program, Greece’s third since 2010, that he negotiated.
Dealers Saw Lower Chances of September Rate Increase in July Survey – Wall Street Journal (subscription)
The Federal Reserve’s primary dealers in July assigned a slightly lower probability to the central bank picking September for the first increase in benchmark short-term interest rates than they had in June, according to a survey by the Federal Reserve Bank of New York released Thursday.
Yuan Bearish bets at Five-Year High; Asia FX Outlook Worsens – Reuters
Bearish bets on the Chinese yuan hit their largest in more than five years after a surprise devaluation of the currency, while the outlook on emerging Asian currencies in the past two weeks deteriorated to its worst in years, a Reuters poll shows.
10 Currencies That May Follow Tenge in Tumble Triggered by China – Bloomberg
On most days, Kazakhstan finds itself in the backwaters of financial markets. Yet, it’s this central Asian nation that has delivered the latest shock to global currency trading.
Libor MDL Judge Throws Unprepared Lawyer Out Of Court – Law360
The Manhattan federal judge overseeing sprawling civil antitrust multi-district litigation tied to banks’ gaming of the London Interbank Offered Rate was on the hunt for weak cases on Thursday, thinning the herd by throwing one plaintiff and her woefully unprepared lawyer out of court and leaving other claims on life support.
Bitcoin Technology Finds New Uses in Finance – Operational Risk & Regulation (subscription)
Bitcoin has yet to overturn the world’s financial system, as its creators promised. But although the crypto-based currency remains a minority interest, banks and other financial companies are looking more closely at the blockchain technology behind it, combining the open-source code with adaptations aimed at satisfying compliance obligations.