Parliament Report Slams Barclays, Banking Culture Over LIBOR
A report issued by Britain’s Parliamentary Treasury Select Committee had harsh words for just about everyone involved in the LIBOR-rigging scandal.
Draghi’s Dilemma: ‘Whatever it takes’ Could Alienate Fellow ECB Members
Mario Draghi, president of the ECB, may have painted himself into a corner with his London speech on Thursday promising to do “whatever it takes” to rescue the euro.
Barclays’ Chief Quits as Outcry Over Libor Grows
A day after he insisted he had no intention of stepping down, Bob Diamond resigned as head of Barclays Bank effective immediately, bowing to pressure from lawmakers outraged over the manipulation of Libor rates on his watch.
Can ETNs Be Trusted?
Although the $17 billion exchange-traded note (ETN) market represents less than 2% of the trillion dollar ETP universe, it’s been making a lot of noise.
FDIC Warns on Risks of Market-Linked CDs
A new consumer alert from the FDIC on market-linked CDs, one of the most popular structured products, counsels investors not to let the possibility of higher returns obscure their view of the risks.
China Sees Manufacturing Rise
China could be overcoming the challenges imposed by austerity and economic woes in the rest of the world, if manufacturing numbers are any indication.
Junk Bond Fund Debuts
State Street Global Advisors introduced the SPDR Barclays Capital Short Term High Yield Bond ETF (SJNK), which owns lower rated corporate debt with durations of less than five years.
Top Portfolio Products: New ETFs From State Street, Russell
Interbank FX launches new social trading platform; Smartleaf adds model vendor portal.
ECB Offers Cheap Loans Again
The European Central Bank once again offered cheap three-year loans to banks in the euro region, which quickly soaked up 529.5 billion euros ($712.2 billion) in funding. Analysts had expected the amount to total 470 billion euros.
Banks, Storage Companies Expand Gold Vaults
Demand for gold has already resulted in the building of new vaults or expansion of old ones as investors in a flight to safety have accumulated stores of the precious metal.