Jim Allen, CFA, head of Americas capital markets policy at CFA Institute, and Eric Boess, CFA, director and global head of derivatives at RCM Allianz Global Investors, discuss the impact of derivatives reform on global derivatives trading.
Of the shift fromover-the-counter (OTC) derivatives trades onto exchange-like structures, “The general idea to make markets more transparent and hence more stable is absolutely right. The problem is how you do it, and what you achieve on the way there might not be exactly only positive.”
Prestige Funds has brought to market a fund that uses a variety of managers to invest in private debt and high-yield credit. The Multi Finance Opportunities fund aims to deliver an annual return of 5% to 7%. Investment Week (UK) (14 Feb.)
The UK House of Commons has voted 303-258 against a measure to endorse Prime Minister Theresa May's Brexit strategy, which aims to gain concessions from the EU on how the border with Ireland is handled after the UK leaves the EU. Jeremy Corbyn, who leads the opposition Labour Party, says May should "admit that her strategy has failed" and return to Parliament with a "coherent plan." Politico (14 Feb.)
Factors such as Brexit uncertainty, a weak economic outlook and a dovish stance by the Bank of England will put a brake on the pace of interest-rate increases this year, economists say in a Bloomberg survey. The economists predict rates will rise to 1% in the fourth quarter from 0.75%, rather than a previous forecast of before Q3. BNN Bloomberg (Canada) (15 Feb.)
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