A “forward looking regulator,” in reverse gear… (Updated)

SEE UPDATE BELOW — OUCH!

Are we about to see Mr Martin Wheatley do the perp walk? Read more

Markets Live: Friday, 28th March, 2014

Live markets commentary from FT.com 

Markets Live: Thursday, 27th March, 2014

Live markets commentary from FT.com 

Pointless FCA communications Nos.6 & 7

On Thursday…

The Financial Conduct Authority (FCA) has today issued two Warning Notice Statements. This is the sixth and seventh time the FCA have issued a Warning Notice Statement since it was given the power to do so by the Financial Services Act 2012. The Government’s principal rationale for giving the FCA this power was to promote early transparency of enforcement proceedings. Read more

An overhang, reduced

Rude not to, we guess, with London’s FTSE 100 up 1.3 per cent at the formal close on Tuesday….

UKFI announces that it intends to sell part of HM Treasury’s shareholding in Lloyds Banking Group plc (the “Company”). The disposal of these shares (the “Placing Shares”) will be by way of a placing to institutional investors (the “Placing”).

 Read more

Markets Live: Tuesday, 25th March, 2014

Live markets commentary from FT.com 

A message from Mr Yip Mow Lum…

He’s the chairman of just-and-so Hong Kong listed Magnum Entertainment and here’s the news:

PROFIT WARNING Read more

Markets Live: Monday, 24th March, 2014

Live markets commentary from FT.com 

When does an FX spot become a forward?

Don’t ask a European regulator. Or, if you do, don’t expect an answer any time soon.

We’ve written about the feud between the European Commission and the new-ish fangled ESMA before. Last time it was about the fact that no one seemed to be able to agree what constituted an “alternative investment.” This time it’s over a failure to agree a common definition of what constitutes a “derivative.” Read more

Markets Live: Friday, 21st March, 2014

Live markets commentary from FT.com 

If this tit-for-tatting escalates…

That’s banks’ exposure to Russia by major economy, put together using BIS data by Gilles Moec and team at Deutsche. Click the image to enlarge. Read more

Markets Live: Thursday, 20th March, 2014

Live markets commentary from FT.com 

Markets Live: Wednesday, 19th March, 2014

Live markets commentary from FT.com 

Carney’s gone all MLK on us

Click to read One Mission. One Bank. Promoting the good of the people of the United Kingdom.

 Read more

Markets Live: Tuesday, 18th March, 2014

Live markets commentary from FT.com 

No pressure or anything

In her role as Deputy Governor for Markets and Banking, Dr Shafik will be responsible for reshaping the Bank’s operations and balance sheet, including ensuring robust risk management practices and helping to lead the design and execution of an eventual exit from quantitative easing by the MPC. She will also oversee the implementation of reforms to the Bank’s Sterling Monetary Framework, lead the Bank’s work to build fair, efficient and effective financial markets, and review and strengthen the Bank’s Markets and Banking areas, including a comprehensive review of the Bank’s essential market intelligence function.

 Read more

The eejit market in AIB, take two

Just for St Patrick’s Day — further evidence that certain Irish (and American) market participants can’t add up…

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Markets Live: Monday, 17th March, 2014

Live markets commentary from FT.com 

The 6am London Cut

Vodafone has reached an agreement to purchase Spanish cable company Ono. The deal, which is expected to be announced on Monday, values Spain’s second-largest provider of broadband internet, pay television and fixed telephony services at €7.2bn, including debt. (Financial Times)

Shares in the largest stakeholder of Alibaba jumped 6 per cent on Monday after the ecommerce giant confirmed plans over the weekend to go public in New York. (Fast FTRead more

Markets Live: Friday, 14th March, 2014

Live markets commentary from FT.com 

Markets Live: Thursday, 13th March, 2014

Live markets commentary from FT.com 

Markets Live: Wednesday, 12th March, 2014

Live markets commentary from FT.com 

The non-horror Help to Buy show

When Morgan Stanley’s Huw Van Steenis and his colleague Charles Goodhart ventured into these pink pixels last September, arguing that Britain needed a housebuilding and house-buying support scheme if the economy was going to achieve ‘escape velocity,’ the analytical duo probably didn’t count on getting dragged through the august columns of the FT editorial page.

But that’s what happened… Read more

Markets Live: Tuesday, 11th March, 2014

Live markets commentary from FT.com 

Markets Live: Monday, 10th March, 2014

Live markets commentary from FT.com 

Markets Live: Friday, 7th March, 2014

Live markets commentary from FT.com 

Markets Live: Thursday, 6th March, 2014

Live markets commentary from FT.com 

The Relentless Josh Brown

We’re fans of The Reformed Broker. Reluctantly, sometimes. But fans nevertheless.

So we should just note that a Josh Brown post from Wednesday, looking at the relentless growth of passive asset management and its effect on equity markets has, quite simply, gone viral.

In fact, if you are a market professional and it’s not in your inbox already this morning, you are a failure.

To save your blushes, here’s the link to the original, here’s Josh’s follow up, and here are some choice quotes to memorise quickly… Read more

Markets Live: Wednesday, 5th March, 2014

Live markets commentary from FT.com 

Markets Live: Tuesday, 4th March, 2014

Live markets commentary from FT.com