Month: September 2020

US Second Quarter GDP Revised Up to -31.4%

Second quarter US GDP Wednesday was revised up slightly due to upward adjustments to consumption and residential fixed investment. Analysts will look past this data and toward the third quarter’s likely partial recovery. Second quarter GDP was revised up to a 31.4% decline from the 31.7% drop in the second estimate. Analysts had expected GDP […]

Capitolis Adds Two to Management Team

Capitolis, today announces the appointment of two senior executives to its executive management team. Lindsey Baptiste joins the SaaS platform as senior vice president of finance and Hen Lotan as chief of staff. According to a statement, the new hires will “support Capitolis in its next phase of growth and play a key role in […]

ECB President Comments on Inflation Targeting

Europe’s top central banker Wednesday suggested that symmetrical inflation targeting could have merit in dispelling the low inflation environment suffered in advanced economies since the financial crisis. Addressing the ECB and its Watchers XXI conference in Frankfurt, ECB President Christine Lagarde noted that many central banks have explored a strategy to overshoot inflation to “explicitly […]

BoE’s Haldane Sees No Current Need for Negative Rates

A top Bank of England (BoE) official Wednesday vigorously downplayed the need for sub-zero interest rates in the UK, citing an economic recovery that has far outpaced the Bank’s expectations. “At present, none of the conditions [that would necessitate negative rates] is, in my view, satisfied,” said Andy Haldane in a virtual speech to the […]

TP Icap Eyes Liquidnet Deal to Build Out Fixed Income and Credit

Inter-dealer brokerage firm TP Icap is in “advanced discussions” with equities and fixed income trading technology provider Liquidnet for between $600-700 million. The firm says the deal will bring it a buy side client base as well as opportunities to build a dealer-to-client business line. Although Liquidnet is mostly known for its equities dark trading […]

JP Morgan Fined $920 Million Related to Spoofing Charges

Two US regulators, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), along with the US Department of Justice (DoJ) have levied fines totalling $920.2 million on JP Morgan over spoofing activities conducted by former traders in precious metals futures and US Treasury cash markets. The authorities say the activities of […]

Genesis Custody Officially Launches

Genesis, which launched the first US OTC bitcoin trading desk in 2013, today announced the launch of Genesis Custody, the culmination of integration work following the acquisition last May of digital custodian, Vo1t. “When we began to think through our plans for custody, we went in with a deep understanding of the unique characteristics of […]

BoE Chief Reviews Negative Rates; Downplays Cut

The Bank of England (BoE) is continuing to review the efficacy of negative interest in the UK, but the country’s leading central banker Tuesday downplayed the possibility of any policy change over the near term. The Bank is “doing the groundwork” on the benefit of sub-zero rates, but has “reached no judgement on whether or […]

Eurozone Economic Sentiment Improves, But Pace Slows

Economic sentiment in the countries sharing the euro improved in September, but at a slower pace than in previous months, the European Commission reported Tuesday. The Commission’s Economic Sentiment Indicator (ESI) rose to 91.1 in September, an improvement of 3.6 points from the 87.5 result in August. By comparison, August improved 5.1 points over the […]

US September Confidence Surges; Outlook Improved

The Conference Board’s US consumer confidence index Tuesday surged to a reading of 101.8 in September, the strongest reading since March, from an upward revised 86.3 reading in August. The Conference Board noted both the current conditions reading and future expectations rose solidly in the month, which should support spending. Analysts had expected the September […]