Posts belonging to Category bonds



Brexit: Divorce deal agreed

May: there will be no hard border in Ireland

Britain and the European Union struck a deal on Friday to move on to talk about trade and a transition period after they agreed the outline of their divorce, easing the pressure on Prime Minister Theresa May. The European Commission said enough progress had been made after the two sides worked through the night to end an impasse over the status of the Irish border that had scuppered an earlier attempt to clinch a deal on Monday.

The Commission gave its verdict in a statement after intense talks, which resulted in British Prime Minister Theresa May taking an early-morning flight to Brussels to announce the deal alongside Commission President Jean-Claude Juncker. Donald Tusk, the chairman of European Union leaders, welcomed the deal but said London still needed to provide more clarity on the new relationship after Brexit, and bemoaned the fact the first round of talks had taken so long.

“We all know that breaking up is hard, but breaking up and building a new relation is much harder,” he said. “So much time has been devoted to the easier task and now … we have de facto less than a year” left for talks before Britain is due to leave in March, 2019.

http://www.reuters.com… Fri., 08  December 2017

EU blacklist names 17 tax havens

Caymans and Jersey on notice

The EU has named and shamed 17 countries in its first ever tax haven blacklist and put a further 47 on notice, including British overseas territories and the crown dependencies of Jersey, Guernsey and the Isle of Man, in an attempt to clamp down on the estimated £506bn lost to aggressive avoidance every year. The move was hailed as a vital “first step” but the failure of the member states to agree on any sanctions for those on the blacklist provoked the European commissioner for economic and financial affairs, Pierre Moscovici, to concede it was as yet “an insufficient response”.

The blacklist includes South Korea, Mongolia, Namibia, Panama, Trinidad & Tobago, Bahrain and the United Arab Emirates. Guam, the US territory in the Pacific, also features on the blacklist, in a move that is unlikely to endear Brussels to Donald Trump’s White House.
http://www.theguardian.com… Thu., 07  December 2017

What is the future of Money?

Bitcoin, Dollars or Gold?

Type “Bitcoin is a Bubble” into Google and you’ll get 31,800,000 results, a clear indication of how many times people have, incorrectly so far, called a top in the price of the worlds most famous cryptocurrency. We’ve been studying it for years and have summarised our thoughts in a detailed report; “Bitcoin, Dollars, Gold: What is the Future of Money”

We see numerous potential tailwinds for Bitcoin, and for blockchain especially. Capital is flowing into the sector, millennials love it, and we also think governments and commercial banks are supportive of digital currency, as they have a general disdain for physical cash. Blockchain’s potential to disrupt multiple industries is also another tailwind. For those who want further evidence of its potential, we suggest reading “Banking is only the Beginning: 30 Big Industries Blockchain Could Transform”.

Finally, for as long as central banks the world over engage in the monetary largesse we’ve become accustomed to in the “post” GFC environment, more and more people will look for alternative monetary solutions.

http://www.livewiredmarkets.com… Mon., 04  December 2017

The Fed has no plans for its own cryptocurrency — at least for now

Fed is paying attention to research on blockchain

The Federal Reserve isn’t planning on launching its own digital currency — at least for now. While speaking at an event at Arizona State University on Wednesday, the president of the Federal Reserve Bank of San Francisco, John Williams, said the Fed is not working on its own digital currency, according to Reuters reporting.

But the Fed is paying attention to research on blockchain, the technology underpinning bitcoin, the news wire said.

http://www.businessinsider.com

London loses EU agencies to Paris and Amsterdam in Brexit relocation

Paris won the race to take the European Banking Authority from London

London is losing the European Medicines Agency to Amsterdam and the European Banking Authority to Paris, in one of the first concrete signs of Brexit as the UK prepares to leave the European Union. The two cities won the agencies after tie breaks that saw the winner selected by drawing lots from a large goldfish-style bowl.

The Dutch capital beat Milan in the lucky dip after three rounds of Eurovision-style voting on Monday had resulted in a dead heat.

Paris won the race to take the European Banking Authority from London, beating Dublin in the final, after the favourite Frankfurt was knocked out in the second round.

http://www.theguardian.com…  Tue., 21  November 2017

London: new cryptocurrency card to pay in local supermarkets

You can withdraw money with your Visa debit “Dragoncard”

A London-startup headed by a Credit Suisse veteran is launching a new debit card that it claims will allow people to spend cryptocurrencies across the UK. The London Block Exchange (LBX) launched on Tuesday. It plans to launch a sterling-to-cryptocurrency exchange and a Visa debit card, dubbed “Dragoncard,” that will allow people to spend bitcoin, ethereum, ripple, litecoin and monero across the UK. The startup plans to add more cryptocurrencies in future.

The Visa card, which will be issued by Gibraltar-based pre-paid card provider Wavecrest, will be linked to an app that allows users to buy and hold cryptocurrencies through the LBX exchange. Customers will also be able to withdraw money using the card. Cryptocurrencies will be converted to sterling at the time of withdrawal.

http://www.prnewswire.co.uk…  Wed., 15  November 2017

Bitcoin’s Daily Trade Volume Surpasses $5B

After the Canceled Fork Announcement Bitcoin Trade Volume Spikes Exponentially

Action across bitcoin markets have been all over the place. For instance, on Tuesday, November 7, the price dipped below the $7K zone and rebounded back above that territory a few hours later. The very next day on November 8, immediately following the announcement that Segwit2x was canceled, bitcoin’s market value spiked to a high of $7,900 per BTC. The peak didn’t last long, and the price per bitcoin has been hovering between $7,100-7,450 over the course of the past 12-hours. The last few days bitcoin has been trading over $3B a day in 24-hour trade volume, but on November 9 the decentralized currency swapped over $5B in BTC trades. Presently, bitcoin’s value is trading at $7,150-7,210 across a variety of global exchanges.

http://www.bitcoin.com…  Tue., 14  November 2017

Bitcoin Surges

World’s Biggest Exchange Announces Plans for Futures

The allure of bitcoin was too much for CME Group Inc. The world’s largest exchange owner reversed course today and said it plans to introduce bitcoin futures by the end of the year, only a month after dismissing such a plan. The largest cryptocurrency, which has surged more than sixfold this year, climbed to a record high after the announcement.

http://www.bloomberg.com…  Wed.,  01  November 2017

Quantitative Easing policy in Eurozone

Will the ECB stop buying government bonds?

Since March 2015, the European Central Bank (ECB) has been buying government bonds (also known as ‘sovereign’ bonds) as well as some corporate bonds in huge volumes, at a rate of 60 billion a euros month. The declared aim of this practice, often called “quantitative easing” (QE) in the jargon of central bankers and economists, has been to stimulate inflation and growth in the euro area.

Critics from Germany in particular saw QE as a hidden way for the ECB to fund European national governments — which is illegal under the ‘Maastricht treaty,’ the 1992 statute that established the rules governing European monetary union.

http://www.dw.com…  Thu  26  October 2017

"Brexit is stupidest thing any country has done"

Michael Bloomberg says it is ‘hard to understand why a country doing so well wanted to ruin it’

Michael Bloomberg, the billionaire media mogul and former mayor of New York, has said Brexit is the “single stupidest thing any country has ever done” apart from the election of Donald Trump as US president.

Bloomberg argued that “it is really hard to understand why a country that was doing so well wanted to ruin it” with the Brexit vote, in a series of outspoken remarks made at a technology conference in Boston a fortnight ago.

At that event, Bloomberg, 75, also warned that some workers at the financial media company that bears his name were asking to leave the UK and US because they think the two countries no longer like immigrants and are no longer welcoming.

http://www.theguardian.com…  Wed  25  October 2017