US Dollar Weakens as Low Bond Yields Weigh on Currency – Wall Street Journal (subscription)
The US dollar declined on investor concerns that low longer-term government bond yields may be signaling a weakening outlook for growth and inflation.
Sterling Treads Water Ahead of UK Budget – Reuters
Britain’s pound trod water, with traders wary of taking on any large new positions on the currency ahead of a budget statement from the country’s finance minister Philip Hammond.
Buoyant Risk Appetite Pushes Euro Up for a Second Day – Reuters
The euro edged higher for a second consecutive day, recouping more than half of its losses sustained after the German coalition collapse as investors bought the single currency on expectations of strong economic growth.
Paris Watchdog Win Bolsters Its Fight for Brexit Banks – Reuters
The surprise decision to move the European Banking Authority to Paris will boost its chances of attracting London banks after Brexit, French officials said.
Wall Street Has Had a Dismal Year – And the Latest Business-by-Business Report Card Confirms It – Business Insider
Investment banking revenues at the top-12 banks fell to $118.1 billion during the first three quarters of 2017, according to data from industry consultant Coalition.
Lebanon Tension Spurs Questions Over Middle East Currency Pegs – Financial Times (subscription)
The rumbling crisis in Lebanon has raised questions about the country’s currency peg – the bedrock of its relative financial and economic stability – and prompted a sterner examination of other fixed foreign exchange regimes across the region.
Turkey Forgets Lesson It Taught Russia on Ending Market Rout – Bloomberg
Turkish President Recep Tayyip Erdogan shouldn’t forget the time he taught Russian leader Vladimir Putin how to manage a currency crisis.
High-Speed Traders in Search of New Markets Jump Into Bitcoin – Bloomberg
Electronic-trading firms that have already transformed markets from stocks to foreign exchange to futures are diving into bitcoin and other cryptocurrencies.
Post-Crisis Phenomenon of Upside-Down Swap Spreads Fades Away – Bloomberg
One of the odder distortions created by post-crisis financial regulation – the unprecedented decline in US swap rates below Treasury yields – may be poised to end.
Malaysia Says Working on Regulatory Framework for Crypto Currencies – Reuters
Malaysia has begun work on a regulatory structure for digital currencies such as bitcoin, its central bank governor said, aimed at further securing Malaysia against money-laundering and terrorism financing.
Citi, BNP Judged Less Risky in Global Regulators’ Ranking – American Banker
Citigroup and BNP Paribas dropped in global regulators’ ranking of banks that pose the biggest threat to the financial system, and authorities recommended they face lower capital surcharges.
The One Job in DC That Everyone Wants – Bloomberg
In the fractious US capital, everyone can agree on this: being chairman of the House Financial Services Committee is a cushy gig.
MiFID Myth Is That Rules Will Benefit Savers, Money Managers Say – Bloomberg
The biggest shakeup in financial services in a decade has drawn complaints from bankers and money managers over excessive regulation, compliance costs and risks to their businesses and jobs.
Cryptocurrency Firm Taps FX Expertise for Advisory Board – Profit & Loss
Cryptocurrency liquidity provider B2C2 has announced the appointment of Peter Nielsen, Ruth Wandhöfer and Phil Weisberg to its advisory board.
BAML Readies Consolidated Trading Platform – Markets Media
After years in development, Bank of America Merrill Lynch’s Global Banking & Markets business expects to take its consolidated trading and risk management system, known as Quartz, live on an end-of-day basis in the first quarter of 2018.
CBOE Releases New Details on Bitcoin Futures Contracts – Coin Desk
In a blog post, the company published some of the technical details for its futures contract, which will be listed under the symbol XBT – that is, of course, pending approval from US regulators.
Europe’s First Bitcoin Mutual Fund Launched by Tobam – Financial Times (subscription)
A small Paris-based asset manager has launched Europe’s first bitcoin mutual fund in a move intended to draw institutional investor interest in the volatile cryptocurrency that has surged from $1,000 to more than $8,300 this year.
Turkey’s Central Bank Takes Action as Lira Hits Record Low – Financial Times (subscription)
Turkey’s central bank took steps to support the lira after the currency fell to a record low but faces a battle to win investors’ trust due to persistent political interference, deteriorating US relations and rising inflation.
Krona Rebounds as Central Bank Deputy Stresses Confidence – Financial Times (subscription)
Sweden’s krona bounced back from a crisis-era milestone, after the deputy governor of the country’s central bank dismissed a number of concerns that had been worrying investors.