Financial Markets
Top stories summarized by our editors
2/21/2018

Ilmars Rimsevics, head of Latvia's central bank, has been suspended for allegedly soliciting a bribe, as corruption claims and counterclaims hit the government and financial institutions. The Defence Ministry says the claims might be part of a disinformation campaign to destabilise the government, although it has not named a perpetrator.

2/21/2018

Technical analyst Tony Sycamore predicts a brief pullback for the euro against the US dollar, which could see the euro slip to as low as 1.1453 from about 1.25. However, an Elliott Wave analysis of the euro-dollar chart suggests an ascent to 1.50 could follow the pullback.

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Elliott Wave
2/21/2018

Senate Minority Leader Charles Schumer, D-N.Y., has suggested to President Donald Trump that Dan Berkovitz, general counsel at the Commodity Futures Trading Commission from 2009 to 2013 and a partner at WilmerHale, become a Democratic member of the regulator, sources say.

2/21/2018

Deutsche Boerse has reported fourth-quarter net profit of €213.6 million, a 26% increase. CEO Theodor Weimer aims to increase net revenue by 5% or more.

2/21/2018

German investors showed the most interest in the first 30-year bond from Spain in two years. The bond hit a record order book of more than €25 billion.

2/21/2018

EU officials are alarmed by possible consequences of a tax overhaul in the US, but finance ministers are having trouble agreeing on a unified response. The tax overhaul raises doubts about the EU's effort to implement a digital tax.

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EU, Trump, Donald Trump
2/21/2018

Investors who have poured money into high-yield bonds likely will withdraw from the investments if the 10-year German government-bond yield, which stands at 0.74%, exceeds 1%, according to a Bank of America survey. Expected tapering of European Central Bank bond buying might prompt investors to switch to government debt from corporate bonds, strategists say.

2/21/2018

EU finance ministers are chilly toward the idea of selectively relaxing banks' capital requirements to stimulate financing for green projects. Representatives of Austria, Belgium, the Netherlands and Sweden argue incentives for green finance shouldn't go as far as easing capital rules.

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EU
2/21/2018

A proposal under the updated EU Bank Recovery and Resolution Directive to limit swaps counterparties from closing out trades with a bank to two days includes a preresolution moratorium that could hurt non-EU banks, market participants say.

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EU
2/21/2018

Supervisors must require that banks continue to comply with standards on consumer protection, privacy, competition and national security while pushing financial-technology innovation, according to the Basel Committee on Banking Supervision. "The scope and nature of banks' risks and activities are rapidly changing, and rules governing them may need to evolve as well," the committee says.

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Basel Committee