Month: May 2020

In the FICC of It

This week’s podcast is all about performance – following the third of Profit & Loss’ spring Dial-in-Days, editor-in-chief Julie Ros joins Colin Lambert to discuss some of the themes coming out of the events, starting with hedge fund and CTA performance in the recent market upheaval. Ros dives into the suggestion by panellists in New […]

After 20 Million Jobs Drop, What’s Next?

The US April data were, in a word, horrible. There was no silver lining, except that it was, hopefully, the worst we will see and that some relative recovery began over the last few weeks. The May business conditions data already released continued their downward trend, but the pace of contraction was, in the main, […]

April Income Lifted by Stimulus, But No Place to Spend

Personal income surged in April on the large infusion of government stimulus payments. The only problem was that there were fewer places to spend it. Personal income rose by 10.5% in April, well above the 6.0% decline expected that did not consider the inclusion of the transfer payments. Current transfer receipts rose by $3.0 trillion […]

Banks Fail to Have Manipulation Hearing Thrown Out

A class action brought against 16 banks and their affiliates for alleged manipulation of FX markets will be allowed to go ahead after a New York judge largely ruled in the plaintiffs’ favour by throwing out a motion to dismiss brought by the defendants. The banks did, however, have the appeal to have the motion […]

The Times, They Are A-Changin’

‘Back to normal’ – three simple words, and a world of meaning. For those in the UK, Monday, 23rd March 2020 marked the point at which everyone’s life changed. Lockdown has had, amongst many other effects, a profound impact on how and where we work and the very nature of the job we do. The […]

CFTC Extends IM Compliance for Larger Firms

As the US and much of the world faces a Black Swan event in the form of the COVID-19 pandemic, Commodity Futures Trading Commission (CFTC) chairman Heath Tarbert today announced a one year extension for larger entities facing compliance with initial margin (IM) requirements for uncleared swaps, making the new compliance date September 1, 2021 […]

Northern Trust, BlackRock Enter Alliance

Northern Trust today announces a strategic alliance with BlackRock to deliver enhanced operations, data and servicing capabilities to mutual clients through Aladdin, BlackRock’s investment management and operations platform. The bank says the alliance will provide clients with increased efficiency, interoperability and transparency across the back, middle and front office. The relationship with BlackRock currently supports […]

Amundi Obtains ‘Super’ ManCo Status in Ireland

Amundi today announces that the Central Bank of Ireland confirmed the European asset manager as a ‘Super’ Management Company in Ireland. It complements a range of existing authorisations held by the firm including individual portfolio management and investment advice. With the full scope of AIFMD and UCITS permissions in Ireland, Amundi says it can now […]

US initial Claims Slow, Durable Goods Plunge

The US data released earlier Thursday offered few surprises, with the level of initial claims continuing to slide, durable goods orders down sharply in April and first-quarter GDP slightly worse than previously reported. However, a dip in continuing claims suggests that some displaced workers returned to their jobs in mid-May, a positive sign. Initial claims […]

RBC Launches FX Trade Recommendations Service

RBC says it has executed its first FX trades with clients via AMOS, a new daily FX trade recommendation service aimed at hedge funds and real money clients who have an active FX mandate. Subscribed clients receive daily FX trade recommendations ahead of execution, replicating the performance of RBC’s FX positioning based trading strategy dollar […]