North America

The rally in bank stocks seen after Donald Trump’s election victory had stalled by the time of his inauguration as president on January 20. Fourth-quarter results from US banks were also announced in January, giving bank heads a chance to pitch their prospects relative to competitors.

One of the US president’s oft-repeated election promises was a tax holiday to encourage US corporations to bring assets held abroad back onshore – if he delivers, the dollar is likely to strengthen considerably against the currencies in which those assets are held, says Nomura.

The finance industry continues to struggle with the disconnect between talk and action on diversity. Is it time for the activists to shake things up?

For a non-US bank to be a success in the US, it has to get its ambitions right first.

US banks strike positive tone over earnings; Europeans less likely to reap rewards of new volatility.

A booming start to bond issuance in 2017 is threatened on two related fronts.

Last year was far from a vintage year for the big five US corporate and investment banking franchises, with almost no business lines seeing an overall increase in revenues in 2016, but the gains in fixed income sales and trading were enough to inch CIB division revenues up by 1.4% to $142 billion.

Globalization and alliances are at risk.

The international financial reporting standard (IFRS) hedge accounting rules are likely to bring benefits to corporate treasurers, but could be a big worry for bankers.

Only a week into Trump taking office, it is too early to make concrete predictions about what the FX market can expect, but the acting chairman of the CFTC has outlined some of his priorities, which could provide clues.

Reprivatizing Fannie Mae and Freddie Mac is high on the agenda of the new Trump administration – its close ties to the hedge funds that were hit by their conservatorship and subsequent cash sweep could explain why, and is just one example of the murky incentives that have followed Donald Trump into the White House.

Citi's new mobile app is a first crucial step to re-invention. Head of consumer banking, Stephen Bird, tells Euromoney the bank may have only a couple of years to convince customers it is the high-quality, always-connected partner with the services they want.

As he steps down from the CFTC on inauguration day, Timothy Massad warns the new administration that wholesale repeal of post-crisis financial regulation would be a big mistake.

Gary Cohn, president and COO of Goldman Sachs, was poised to join president-elect Trump’s new administration at the end of last year, having been appointed director of the National Economic Council.

Big banks are finding it tough to be consistent around environmental standards. They need to try harder to address the conflicts and inconsistencies.

The increasing dominance of global investment banking by US firms is hard to ignore.

Volatile markets, political noise and a culture revamp will be the top themes in foreign exchange for 2017, predict currency experts. Disruptive fintech firms will continue to make headway in a market that is rapidly changing in light of rising pressure on traditional market makers such as banks and demands for greater transparency

The painstakingly gradual loosening of US monetary policy continued this week, with the second rate rise in the cycle coming one year after the first, but the Fed gave markets something to think about by indicating it expects to raise rates three times in 2017.

Gender lens investing is on the rise, and with good reason. Not only do companies perform better with greater female representation on their boards, but a multi trillion-dollar wealth transfer to women and millennials means greater investment focus on social issues like diversity.

ESG criteria increasingly used by investors; impact investing still has growth challenges.

Regulatory capital requirement cut to $50 million; not enough smaller firms to fill the void.

A last-minute proposal by the European Commission risks throwing global bank capitalization rules into further flux.

The Fed’s white paper on blockchain shows the extent of concerns about instability in the $12.6 trillion-a-day US payments system as it adapts to new technology. It also puts tech providers on warning of bank-like regulation.

Anyone hoping they fell through a wormhole on November 8 and are now living in an alternate reality will be encouraged by a new ad campaign in the US.

Japanese bank stocks have shot up in the wake of the US election result. The reasons have to do with shifting sands in bank regulation.

After failing to reach agreement at its last two meetings, Opec agreed this week to cut oil output for the first time in eight years. The oil price responded favourably, but lingering doubts about the finer details could mean the impact is short lived.

Floating NAVs, gates and fees come into force; rate rise may lure investors back.

Global Aggregate index yield jumps by 25bp in 11 days; $8.2 billion leaves US bond funds in one week.

Bank stocks rallied after Trump’s victory in the US election on hopes that higher trading revenue will outweigh potential disruption to global trade. A second act for traders now beckons.

Donald Trump vilified Wall Street during his presidential campaign in stump speeches and an advert that featured an image of Goldman Sachs CEO and chairman Lloyd Blankfein as a symbol of the “corrupt machine” that needed to be overthrown.