Philippe Jabre was the quintessential swashbuckling trader, slicing his way through markets first at GLG Partners and then an eponymous hedge fund he founded in 2007 — at the time one of the industry’s biggest-ever launches. But in December he fell on his sword, closing Jabre Capital after racking up huge losses. The fault, he said, was machines.
President Donald Trump is increasingly eager to strike a deal with China soon in an effort to perk up financial markets that have slumped on concerns over the trade war, according to people familiar with internal White House deliberations.
- China Offers Trump a Trade Peace Deal. It May Not Be Enough – New York Times
- Chinese State Media: Any US-China Trade Agreement Must Involve ‘Give and Take’ – Reuters
- US Trade Delegation Wrapping Up Meetings in China, Hopes of a Deal Build – Reuters
The growth of the global economy is expected to slow to 2.9 percent in 2019 compared with 3 percent in 2018, the World Bank said, citing elevated trade tensions and international trade moderation.
Populist parties came to power promising not to use public money to save troubled lenders, now they are offering to do so.
Fresh signs of a weakening German economy are raising fears that last year’s slowdown could spill into 2019, deepening the challenges facing policy makers in Europe and the US.
There is a good chance the yen will strengthen to 100 against the dollar in coming months as slowing global growth and U.S.-China trade tensions keep investors on edge, a former senior Bank of Japan official said.
Since April last year policymakers at the Reserve Bank of Australia (RBA) have stated that the next move in Australia’s cash rate was likely to be up. Initially, financial markets agreed with the bank, but now they disagree.
UK markets regulators have announced further measures to ensure millions of financial contracts will be unaffected by Brexit, as authorities step up preparations to avoid financial turmoil should Britain leave the EU without any agreement.
The Federal Reserve Bank of New York has taken the step of publishing a statement detailing how it handles confidential information from foreign exchange and Treasury market participants.
Investors, policymakers and even farmers are being deprived of key economic data as the partial US government shutdown moves into its third week.
Bank Indonesia (BI) and the Finance Ministry signed an agreement on Monday on the integrated data monitoring on foreign exchange, particularly relating to exports and imports.
A survey of central banks by the Bank for International Settlements finds that while a majority are collaboratively looking at the implications of issuing a central bank digital currency, indeed many have reached the stage of considering practical issues, they are proceeding cautiously with few reporting plans to actually issue a digital currency in the short or medium term.
Sweden’s Riksbank has repeatedly raised the idea of ‘e-krona’ or digital currency in recent years, but on Monday reiterated that a project launched in 2017 to look into the possibility of launching such a currency had not yet been completed.
Ethereum classic, a spin-off of the world’s second most popular cryptocurrency, has been hit by a series of major attacks on its blockchain network.
HODLers in India have a reason to smile in the New Year as holding cryptocurrencies in the country could soon be legalized.
Hedge funds had their worst year in seven years as financial market turmoil in the fourth quarter of 2018 caught many off-guard. But it was not all bad news for the beleaguered industry: they also beat the S&P 500 index for the first time in a decade.
American Express Co. suspended a director in its foreign-exchange department as part of its ongoing investigation into pricing practices in the division, according to people familiar with the matter.
Apple is cutting its current production plan for new iPhones by about 10% for the next three months in a sign that the U.S. smartphone maker is expecting a further hit this year, just a week after its market-shaking revelation that it would miss revenue forecasts at the end of 2018.
AQR, the quantitative investment group founded by billionaire Clifford Asness, says it is making “small reductions” to its headcount after a tough 2018, when most of its biggest public funds suffered big losses.
An old adage has it that US economic recoveries never die of old age but are killed off by the Federal Reserve. This belief was clearly a factor in the markets’ worries at the turn of the year. Yet as Bradford DeLong of the University of California at Berkeley points out in a recent piece on Project Syndicate, this is plain wrong. Three of the last four US recessions were, in fact, sparked by financial market shocks.
The US Federal Reserve would end the current cycle of interest rate increases in 2019 by raising borrowing costs only once, putting a floor under global financial markets, while China’s economic growth may stabilise in the second half, according to Vanguard Group.
Forex analysts have lowered their forecasts for the Australian and New Zealand dollars from a month earlier but still see them bouncing modestly by the end of 2019, a Reuters poll showed, with uncertainties rife amid the Sino-U.S. trade battle.
The rand is expected to remain volatile in 2019 as the political temperature hots up ahead of the election and the continued strain in relations between the US and China. On Friday, the rand was quoted at 13.9649 to the US dollar.