Bank lobbyists who opened the Trump era with great expectations for sweeping regulatory reform are privately striking an increasingly dismal tone as hopes for a quick and thorough rewrite of Dodd-Frank legislation dim.
European equity markets are currently on course to open a little higher but these gains are marginal and at this stage only represent a slight paring of Monday’s losses. Weakness in commodity markets – usually associated with the risk-off trade – weighed on indices on Monday and again during the overnight session in Asia, and could continue to do so throughout trade today (Tuesday, April 26).
Saudi Arabia is close to securing a $10 billion, five-year bank loan, the government's first significant foreign borrowing for over a decade, as the world's top oil exporter seeks to fill a record budget gap caused by low crude prices.
China issued detailed rules on Wednesday allowing foreign central banks, sovereign wealth funds and international financial institutions to participate in interbank foreign exchange trading in the country.
Barclays axed its CEO just three years after he began the job in the name of strategic change and increased shareholder returns. This may be the first of many changes at the bank following a rate-fixing scandal.
Denmark has applied to join the Beijing-led Asian Infrastructure Investment Bank, China's Ministry of Finance said on Sunday, becoming the latest European power to join the institution despite misgivings of the United States.