Monthly Archives: October 2016

SEC weighs greater oversight of Treasury trading platforms

The US Securities & Exchange Commission is developing recommendations to extend trading-platform regulations to venues that only trade Treasuries, which would remove a nearly 20-year-old exemption and expand oversight of principal trading firms. The SEC joined the US Treasury Department in its public reporting of some trading data for the $13tn market, according to remarks from chair Mary Jo White…

US securities regulators tout another record year for enforcement

It’s been another busy year for the US Securities and Exchange Commission, which said on Tuesday that it brought a record number of enforcement actions and awarded more money to whistleblowers than ever before. During fiscal year 2016, which ended September 30, the US securities regulator filed 868 enforcement actions, up from 807 in FY 2015 – the most in…

Investors must treat FTSE 100 rally with care

©EPA We have a landmark alert on UK stocks. The FTSE 100 has breached 7,000 and closed on Tuesday within a whisker of its all-time record, set last year. The FTSE 250 index of smaller companies, more dependent on the UK economy, is at an all-time high? What explains this, and can it still be a time to buy? Discussions…

Asia drifts as markets weigh stimulus outlook

©Reuters Wednesday 05.30 BST. Financial markets across Asia were struggling for direction as investors weighed the outlook for global central bank stimulus. The euro was up 0.2 per cent at $1.1223, having trimmed losses sharply late in the previous session after media reports that the European Central Bank was considering tapering its quantitative easing programme before its intended conclusion in…

EU eyes banks in a clearing house emergency

©AP Banks, commodity traders and asset managers may be forced to participate in emergency fundraising if a clearing house in the European Union collapses, under new proposals being considered by Brussels. The plans, which the EU Commission envisages publishing in November, are set to be the first major financial services proposal by Brussels since the UK’s vote in June to…

Markets eye the taper but fear the tantrum

©Reuters To taper or not to taper — and if so, how? Those are the questions investors are asking with increasing urgency as they tire of endless monetary policy easing and as central banks seek to persuade governments to help take on the challenge of quickening global growth. The world economy has “moved sideways”, Maurice Obstfeld, chief economist of the…

Commonwealth fears fallout of Brexit vote

©Tim Hester/Alamy Tourists watch elephants swimming across the Chobe river, Botswana. Commonwealth states fear the impact of sterling devaluation on tourism from the UK Commonwealth countries are increasingly concerned that the sustained fall in the value of the pound since the Brexit vote will hit exports and lead to a sharp slide in tourism from the UK. Supporters of a…

Markets question ECB bond-buying outlook

©EPA The eurozone bond market was rattled on Tuesday by concerns that the European Central Bank might be contemplating how to scale back its quantitative easing programme, sending yields sharply higher and contributing to the worst day for gold in over a year. The euro also jumped higher versus the dollar after Bloomberg reported — citing unnamed officials — that…

Pound’s fall is a reality check for May

©Bloomberg There is a conspiracy theory that Donald Trump is trying to throw the US presidential election. How else to explain his car-crash performance at the first debate? Here is another one about Theresa May: she is deliberately talking down the pound, or at least letting it fall. The summer has been a phoney war over sterling, with fears over…

Pearson lifted by pound as FTSE nears high

©Bloomberg The FTSE 100 was within touching distance of its record high on Thursday as the pound’s continuing slump lifted dollar earners such as Pearson. “With 66 per cent of sales in the US and sub 10 per cent in the UK, Pearson is a play on Brexit nervousness,” said Morgan Stanley, which told clients that fears of another profit…