Financial Markets
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9/19/2017

UK Prime Minister Theresa May moved top negotiator Oliver Robbins from his position in the Brexit department to an advisory job in the Cabinet Office ahead of the next phase of negotiations with the EU. The talks have deadlocked in recent weeks over how much the UK must pay to settle its financial obligations to the EU.

9/19/2017

Bank of England Governor Mark Carney said in a speech to the International Monetary Fund that Brexit will boost inflationary pressures in Britain and undercut economic growth. He said there is little the central bank could do to help because "Brexit represents a real shock about which monetary policy can do little".

9/19/2017

Hong Kong's Securities and Futures Commission said it will continue to press for a more thorough examination of proposed initial planned offerings before they go to market, despite its decision to let Hong Kong Exchanges and Clearing remain as the primary supervisor of IPOs. Ashley Alder, head of the Hong Kong regulator, said its approach will be "less enforcement than nipping problems in the bud before they get to the stage when enforcement is required".

9/19/2017

Federal Reserve Chair Janet Yellen is expected to announce this week the start of passive unwinding of the central bank's $4.5 trillion portfolio, but how much the balance sheet will shrink remains unknown. The Fed begins its two-day meeting today.

9/19/2017

Veterans are challenged by credit card debt but on the whole are in better financial condition than civilians, a study by the Financial Industry Regulatory Authority Foundation found. Veterans are 40% more likely than nonveterans to own homes that are worth less than their mortgage balances, according to the study.

9/19/2017

With the value of the US dollar headed toward a 2½-year low, bond buyers who invested in emerging-market debt denominated in local currencies are being generously rewarded. The Bloomberg Barclays index indicates that since the beginning of this year, emerging-market local-currency bonds have provided an overall 13.48% return.

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Reuters
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Bloomberg Barclays index
9/19/2017

AFME has named Jacqueline Mills, a regulatory specialist, as head of its Frankfurt, Germany, office, which opened in February. Mills, who will be based permanently in Frankfurt starting January, has served as a senior director in AFME's prudential regulation division in London for the past three years.

9/19/2017

Portuguese 10-year bonds' rally Monday was the sharpest in 18 months. The yield fell to 2.53%, and the yield gap against German bonds dropped to 2.09 percentage points.

9/19/2017

An estimated 10,000 finance jobs will be moved out of the UK or created abroad if Britain loses access to the EU's single market, a Reuters poll found. Reuters surveyed insurers, banks, private equity firms, asset managers and exchanges just weeks after they were required to submit detailed Brexit plans to the Bank of England.

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Reuters
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Reuters, Brexit, EU, Bank of England
9/19/2017

Ukraine issued its first sovereign bond in three years Monday, raising $3 billion in 15-year bonds and outperforming the Treasury's $2.5 billion target. President Petro Poroshenko sees the success of the sale as support for the country's reforms after a revolution in 2014 and major debt restructuring in 2015.