UBS will pay $545 million to U.S. authorities to end an investigation into alleged manipulation of currency rates, a settlement that will help the Swiss bank to move on after a series of trading scandals.
Revenue at the world's 10 largest investment banks rose 9 percent to $44.9 billion in the first quarter compared to a year ago, as financial market volatility and central bank stimulus measures boosted profits, a survey showed on Wednesday.
A number of banks have put off possible investments in Britain until after a referendum on its future in the European Union, a lobby group said on Tuesday, after Deutsche Bank revealed it was considering cutting down its UK operations should the country pull out.
The 3.9% Q3 GDP release, well above the 3.3% Bloomberg survey consensus, should have been expected to result in a more serious pull back in Treasury and Eurodollar futures. Instead, even the modest initial declines have been somewhat recovered.