The judge in Paul Manafort’s Virginia trial for bank and tax fraud revealed in open court on Friday that he has received death threats, and is now traveling with the protection of the US Marshals Service. “I have the marshal’s protection,” Ellis said. “I don’t…
The blowback against bank virtue signaling has begun. Louisiana’s state’s bond commission voted 7 to 6 Thursday to ban Bank of America and Citigroup from working on its upcoming debt sale because of the banks’ “restrictive gun policies,” the state treasury said in a statement, according to Bloomberg….
If at first you don’t succeed (with central bank intervention), blame speculators and ban short-selling of stocks… Turkey is following the global central planning textbook. Having tried to stabilize the lira, blamed Trump (and the rest of the world for its economic crisis), Turkish authorities…
With interventions by both the Turkish banking regulators and the country’s central bank failing to halt the collapse in the lira, President Erdogan decided to give it another try, and after several weekend speeches that only exacerbated diplomatic relations with the US while raising concerns…
Following emergency bank meetings and numerous pleas by Erdogan for Turks not to “pull FX out of their banks,” blaming the country’s current economic crisis on America, the Lira has opened massively weaker – crashing below 7.00 per dollar for the first time ever… That…
In an ominous sign for Turkey, moments ago the central bank announced it was pulling a page from the Chinese central bank playbook, and lowered its reserve requirement ratio lower to 40% from 45%, in a move that was meant to boost dollar-strapped bank liquidity…
Last Friday’s forceful intervention by the PBOC, in which the central bank hiked the reserve requirement for FX forwards trading from 0% to 20%, was a warning shot at the gathering yuan shorts who managed to briefly send the Chinese currency below 6.90 against the…
The People’s Bank of China today announced a re-introduction of reserve requirements on FX forwards trading which it had eliminated last September just after the Yuan soared against the dollar – a move aimed at taking pressure off the renminbi as the USDCNY rapidly closed…
As expected by the market, the Bank of England raised interest rates only for the second time since the financial crisis, to the highest level since 2009, saying recent data confirmed the bank’s view that the first quarter slowdown in UK growth was temporary. Members…
After a few years of relative apathy, today’s Bank of Japan statement is greeted with considerable anticipation as it may well have some significant impacts on global markets, judging by the last two weeks’ action after hints at BoJ policy shifts. Background: Japan’s economy is…
