Financial Markets
Top stories summarized by our editors
12/17/2018

Deutsche Bank Chief Financial Officer James von Moltke warned that a November raid of its headquarters by German law enforcement officials in connection with a tax-evasion investigation have affected quarterly earnings. Meanwhile, an official from the Qatar Financial Centre reportedly hinted that it might be willing to take a stake in Deutsche Bank.

12/17/2018

The market for three-year UK inflation swaps has risen markedly this year suggesting fears that Brexit will lead to an increase in the inflation rate.

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Brexit
12/17/2018

UK lawmakers should not "break faith with the British people" by calling for a second referendum on Brexit, Prime Minister Theresa May says in remarks prepared for delivery to Parliament today. Her office denied reports over the weekend that some high-ranking officials are considering a second referendum as a way to break the deadlock on the UK's withdrawal from the EU.

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The Guardian (London)
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Theresa May, Parliament, EU, Brexit
12/17/2018

WisdomTree brought to NYSE Arca a global bond exchange-traded fund that hedges currency risk and attempts to deliver higher yield than can be achieved using a cap-weighted investment strategy. The WisdomTree Yield Enhanced Global Aggregate Bond Fund selects bonds from the Bloomberg Barclays Global Aggregate Index and reweights subgroups based on a variety of risks.

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ETF
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NYSE Arca, WisdomTree, ETF
12/17/2018

The Bank of England will require UK banks to model the impact of climate change in their stress-test results beginning next year, Governor Mark Carney said.

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BoE, Mark Carney
12/17/2018

Regulators should coordinate stress tests for banks and central counterparties to prevent the possibility of creating a "destabilising feedback loop" that amplifies market stresses, a Bank for International Settlements quarterly report concludes. "[T]he risks of banks and CCPs should be considered jointly, rather than in isolation," the report notes.

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Reuters
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CCPs
12/17/2018

China has stepped up its efforts to rid the economy of unviable businesses by making greater use of bankruptcy proceedings. Officials' new willingness to allow companies to file for bankruptcy means bondholders must engage with what was until recently a relatively rare process to protect their interests.

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China
12/17/2018

Swedbank Robur, Cinnober's second-largest shareholder, has rejected Nasdaq's £150 million offer to buy a 90% stake in the technology firm because "the bid does not reflect the value of Cinnober's business." Cinnober's board had encouraged shareholders to accept the offer.

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Swedbank, Cinnober
12/17/2018

Former JPMorgan Chase Managing Director Richard Berliand will replace Rupert Robson as chairman of TP ICAP in May. Berliand, who was with JPMorgan for 23 years, is also a member of Deutsche Boerse's supervisory board.

12/17/2018

The London Stock Exchange has completed the €424.5 million acquisition of an additional 14.6% stake in LCH. The deal gives LSE an 82.6% total stake in the clearinghouse.

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Finance Magnates
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LSE, LSE, London Stock Exchange