Financial Markets
Top stories summarized by our editors
1/18/2019

The Australian dollar-Japanese yen pair has breached resistance and has nudged the 61.8% Fibonacci retracement, technical analyst Blake Morrow writes. A slip below 78 would indicate bearishness, Morrow notes.

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Forex Analytix
1/18/2019

The German Finance Ministry is examining whether a merger between Deutsche Bank and Commerzbank could work, sources say. The move could face opposition from Deutsche Bank shareholders and leaders, as well as regulators.

1/18/2019

The yield premium between long- and short-dated UK debt is narrowing amid mounting fears that Brexit will occur without a transition deal. Traders are worried import prices will rise under a no-deal Brexit, forcing the Bank of England to increase interest rates.

1/18/2019

UK banks expect consumers to be reluctant to take on debt this quarter as fears grow over the outlook for the economy, a Bank of England survey shows.

1/18/2019

Italy's Banca Carige is seeking approval to tap a state-backed guarantee fund to support a bond issue. The issuance could raise as much as €3 billion if the guarantee is granted.

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Reuters
1/18/2019

Executives are considering shutting down Societe Generale's proprietary-trading division, sources say. The Descartes Trading unit has struggled to be profitable, with group trading revenue down 20% during the fourth quarter.

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Societe Generale
1/18/2019

Nasdaq has met with the board of Norwegian exchange Oslo Bors to discuss the possibility of countering Euronext's €625 million takeover bid, sources say.

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Oslo Bors
1/18/2019

More than 130 business leaders have responded to a deadlock in the UK Parliament by signing a letter calling for a second Brexit referendum to prevent a chaotic withdrawal from the EU. "The only feasible way to do this is by asking the people whether they still want to leave the EU," the letter says.

1/18/2019

European Central Bank board member Sabine Lautenschlaeger has confirmed the EU would allow banks temporary access to UK clearinghouses in a no-deal Brexit. Lautenschlaeger urges banks to review whether relying on a single central counterparty makes sense in the future.

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Reuters
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Sabine Lautenschlaeger
1/18/2019

US officials are debating whether to drop tariffs on Chinese imports to encourage China to make more substantive concessions in trade talks, sources say. US Treasury Secretary Steven Mnuchin reportedly suggested the move, but US Trade Representative Robert Lighthizer reportedly is concerned it would be seen as weakness.