November 18, 2014
November 17, 2014
Another Bout of US Dollar Strength KO's Commodities
Ongoing macroeconomic and geopolitical themes are pushing several asset classes to multi-year highs (lows) and causing significant angst amongst investors.
November 12, 2014
Despite the Regulatory Rigmarole, It’s All Just Business For the FX Riggers and the Market Triggers
The 'Trifecta' of regulatory agencies has missed one thing: front-office bankers are working in a savagely competitive environment founded on a hierarchy that breeds the desire to cheat.
November 5, 2014
Tax Evasion Crackdown Hits the Buffers as Smoking-Gun-Wielding Banker Is Found Innocent
In a blow to attempts to restrain rampant tax evasion, a Senior ex-UBS banker is acquitted of defrauding the US government by helping UBS conceal $20 billion. The difference between tax avoidance and tax evasion is the thickness of a prison wall.
October 31, 2014
Bank of Japan Shakes Its Money Tree: Raises Annual Monetary Base to $718 Billion
The Bank of Japan takes the unprecedented step of including equity and real-estate assets as part of its stimulus programme. With the monetary base expected to rise and keep rising year-on-year, the outlook for Yen pairs is bleak.
October 28, 2014
As the Fed Mulls Pulling the Normalization Trigger, Can Bullish Markets Bear It?
The Fed's October meeting is highly anticipated and awaited by market participants of all types. Despite the Fed's pretence, if QE3 officially ends today QE4 will be what the markets scream out for in 2015.
October 27, 2014
UBS Adds $2 Billion to Its Litigation Warchest as Regulators Sharpen Their Sabres
The Top 10 banks are building sizeable capital reserves to mitigate a looming regulatory backlash specifically aimed at FX-rate manipulation. Regardless of the penalties, "litigation and regulatory matters will remain elevated for the foreseeable future".
October 21, 2014
LME Confirmed as New Metals Ringmaster as Market Rigging Fears Take Benchmarking Digital
With palladium and platinum price 'fixing' shifting to the LME in December, is benchmark manipulation likely to be curbed or compounded? Any system or solution is only as good as its wielder.
October 14, 2014
Debt, Tax Evasion and Competing Economic Doctrines Dominate IMF and World Bank Discussions
The rate of debt acquisition has slowed but its reduction will not begin until 2019 at the earliest. Posturing and political points scoring continue to lie at the heart of Europe's bureaucracy rather than economic sense.
October 8, 2014
Russian Central Bank Conducts Ruble Intervention and Widens Trading Band
A political crisis in the Ukraine leads to economic calamities in Russia and forces the central bank to defend the Ruble in multiple bouts of intervention already this week. When it comes to fighting the tide, resistance is futile.
October 1, 2014
Russia Scrambles to Defend Rouble Amid Capital Security Concerns
The CBR is rumoured to be on the verge of implementing capital controls for the first time since 1998, as the country maintains its overwhelming dependence on lofty oil prices and artificial market controls in Rouble flows.
UK Treasury Plans to Criminalise All Benchmark Fixing LIBOR-Led by Example
After the horse has already bolted, the UK Treasury begins a consultation into closing the barn door.
September 12, 2014
Global FX Market Regulation — A Big Dream That Requires Even Bigger Ambition
With the majority of financial services under regulatory oversight across the globe, could now be the time when the FX market finally comes in from the cold?
September 10, 2014
EU Commission Presents ‘Team Juncker’ in Chase for Jobs and Growth
The EU Commission is restructured and reshuffled although a federalist flavor remains. With 'TeamJuncker' holding the reins, Europe could be on a fast-track to becoming the United States of Europe.
September 4, 2014
Goldman Sachs Licks its Wounds After Being Ensnared in its Own Murky Web
As more banks engage in off-market transactions using SPV's and subsidiaries to shake off scrutiny, Goldman Sachs is accused of questionable practices, non-disclosure of conflicts of interest and bad business ethics. Again.
September 2, 2014
Spain Issues Long-Dated 50-Year Bond Symbolising a Prolonged European Debt Problem
Forex Magnates reports on Spain’s latest bond issue as the country takes advantage of ultra-low interest rates in a bid to meet its funding requirements and secure a burgeoning recovery.
August 28, 2014
Top Banks Scramble to Restore Forex Revenues as Regulatory Impacts Bite Bottom Line
As falling volumes cut into banking revenues, FX activity at banks is falling at its fastest rate since 2008. Low volatility combined with internal restructuring is further complicated by regulatory challenges.
August 25, 2014
Fed Policy ‘Normalization’ Could Spark Market Volatility as Other Banks Maintain Stimulus
Quantitative Easing hardens as central bankers struggle to reverse stimulus. With debt-propelled markets bracing for 'normalisation', the impact will be anything but normal.
April 4, 2014
Mirror Mirror on the Wall, Who's the Fairest of Them All?
Nationalists beware; every Government has a Public Relations Department.
March 18, 2014
March 6, 2014
The Disfigured Past and an Ominous Future
With monetary and fiscal policy being completely exhausted in the majority of the developed world, a 'Grand Solution' to the debt debacle is on the horizon. What's coming will ignore the many and empower the few.
March 5, 2014
Realise That Everything Connects to Everything Else
Financial markets are much like natural phenomena - all is one, and one is all.
March 4, 2014
Open Letter to Charles Tannock MEP
Morality is doing the right thing regardless of what you are told. Obedience is doing what you are told, regardless of whether it's right.
February 28, 2014
Seasons, Cycles & Spirals
February 26, 2014
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