Financial Markets
Top stories summarized by our editors
1/18/2018

President Donald Trump says terminating the North American Free Trade Agreement would get the US the "best deal" on the trade pact. "I may terminate NAFTA," he said.

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Reuters
1/18/2018

For a second time, the Senate banking committee has confirmed the nomination of Jerome Powell as chairman of the Federal Reserve. The full Senate is expected to vote before the term of Fed Chair Janet Yellen expires Feb. 3.

1/18/2018

European Ombudsman Emily O'Reilly wants European Central Bank President Mario Draghi to cut ties with the Group of 30, an international financial industry organisation, because the group lacks transparency. O'Reilly, whose recommendation stems from a complaint from Corporate Europe Observatory, says Draghi's membership might create "a public perception that the independence of the ECB could be compromised".

1/18/2018

French President Emmanuel Macron has appointed Sylvie Goulard, a former EU lawmaker who once served as French defence minister, as deputy governor of the central bank. The appointment of a politician is a departure from the tradition of selecting someone from civil service.

1/18/2018

Technical analyst Lucas Downey singles out Supernus Pharmaceuticals stock as an attractive long-term proposition, noting it has attracted exceptional interest from institutional investors and has strongly outperformed the pharmaceutical sector in general. The stock broke above resistance in March and, apart from a stutter in September, has risen steadily since and shows potential for further ascent.

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Investopedia
1/18/2018

Eurozone consumer prices increased 0.4% in December compared with November, according to the EU's statistics office. Core inflation, which excludes energy, unprocessed foods, alcohol and tobacco, remained at 0.9%.

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Reuters
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EU
1/18/2018

A vice president might be selected soon for the European Central Bank, followed by replacements for President Mario Draghi, the bank supervisor, the chief economist and an Executive Board member, because incumbents are due to leave during the next two years. Spanish Economy Minister Luis de Guindos appears most likely to become vice president, which suggests the president will be selected from northern Europe to ensure regional balance.

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Reuters
1/18/2018

European Central Bank Vice President Vitor Constancio has joined other ECB officials in voicing concern a strengthening euro might impede an intention to establish inflation at slightly below 2%, noting inflation slipped in December. The concern fuels an argument ECB stimulus should remain until at least September.

1/18/2018

A proposal under review by the EU could give some national bank regulators a vote on the European Systemic Risk Board, which issues warnings. A Swedish proposal, prepared as part of an overhaul of EU financial supervision, would let banking regulators vote on the board if they have authority over macroprudential policy.

1/18/2018

Nonbinding guidance supervisors give banks about capital requirements won't be public unless release is mandatory under EU or national legislation, says Piers Haben, the European Banking Authority's director of oversight. The industry is concerned release of nonbinding guidance could create pressure on banks to increase capital buffers.