Interest rates
Denmark cuts rate for third time in 11 days
Danish central bank cuts its deposit rate for the third time since the Swiss National Bank decided to abandon its exchange rate commitment; rate now sits at -0.5%
Citadel pushes fixed-income expansion into FX
Fixed-income business heads Derek Kaufman and Richard Mazzella explain their strategy in expanding Citadel's growing fixed-income business into foreign exchange. Robert Mackenzie Smith reports
Morgan Stanley hires ex-Nomura FX strategist
Geoff Kendrick relocates from London to Hong Kong to join Morgan Stanley as head of Asian FX and local rates strategy
Rates volatility buoys hopes for currency forwards desks
Banks are preparing for a return of investor appetite for FX forwards, driven by the prospect of interest rate hikes, but some face challenges when it comes to expanding their teams as a result of the Libor scandal. Michael Watt reports
Libor scandal makes it tougher to hire forex traders
Banks are staffing up for a livelier foreign exchange forwards market, but taint of Libor rigging is limiting pool of new traders
Traders surprised by Australian rate cut
Reserve Bank of Australia's decision to cut interest rate to 2.75% came earlier than traders expected
Currency managers divided on net foreign assets as an indicator
Net foreign assets have a greater role to play in weighing up currency strength, says Stratton Street portfolio manager - but others disagree
New FX roles under Rohrbaugh at JP Morgan
JP Morgan last month appointed a new head of spot and a new head of forwards as part of a management reshuffle under Troy Rohrbaugh
Record spots dislocation in covered interest rate parity
Record Currency Management is looking to help its clients profit from a dislocation in the covered interest rate parity between several currencies
Treesdale launches emerging markets global macro hedge fund
Treesdale Partners has launched an emerging markets-focused global macro hedge fund managed by Tiger alumnus Yoon Chang and ex-Barclays trader Ashley Honey
Del Missier renews pressure on BoE over Libor scandal
Former chief operating officer of Barclays Bank says he was told instruction to submit lower Libor rates came from Bank of England; directly contradicts Bob Diamond’s testimony
Markets recoil as major central banks ease policies
Chinese, European and UK central banks take monetary policy action; moves leave no doubt about gloomy global economic picture as eurozone stock markets fail to rally
Carry trade yields 5% annual returns
Carry trades can produce surprisingly high returns, but beware unexpected volatility shocks, write Lukas Menkhoff, Lucio Sarno, Maik Schmeling and Andreas Schrimpf
Taiwan’s trade repository setting up reporting agreement with DTCC
Taiwan's new trade repository for over-the-counter derivatives is looking to ink a reporting agreement with DTCC
CCPs need to provide margin efficiency, says industry panel
Central clearing will place a huge burden on end-users, forcing CCPs to consider how best to create operational and margin efficiencies
Nomura FX business will keep own identity
Global macro products group still bedding down, but Ashley says FX team will retain its individuality
Spot USD/CNH fixing in HK poised to become derivatives benchmark
Hong Kong interbank participants have created the first US dollar to offshore renminbi price fixing giving the city first-mover advantage in becoming an offshore centre for renminbi products such as derivatives, say market participants
LCH.Clearnet confirms FX options clearing for 2011
Annual results confirm significant investment in developing clearing services for FX options
Crédit Agricole wins with eurodollar view
Crédit Agricole CIB has topped this week’s one-month currency forecast rankings as well as the one-month historical index.
smartTrade upgrades clients with StudioAir
smartTrade is migrating clients from smartTrade Studio to StudioAir, an upgraded version of its front-end trading application that enables traders to customise desktop views.
First offshore renminbi swaption accomplished in Hong Kong
The first offshore renminbi OTC swap option was carried out this week between BNP Paribas and HSBC in Hong Kong, brokered by Icap.
Cash variation margin requirements worry pension funds
Having to post cash as variation margin to central counterparties (CCPs) will cause substantial yield losses for pension funds that conduct liability-driven investment (LDI) strategies, according to fund managers.
Deutsche takes the top spot for FX in Q3
ZURICH & FRANKFURT – Deutsche Bank has proved its FX credentials by being the only bank so far to report higher FX year-on-year revenues for the third quarter, despite lower volatility and tight spreads.
Citi expands investor sales in Asia Pacific
HONG KONG - Citi has made key hires in the Asia Pacific as part of efforts to expand its investor sales coverage.