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New market regulations governing the FX industry have done more harm than good for FX trading desks, according to an October survey by TradeTech FX.

The growth of data as an analytic and compliance tool is transforming strategies for banks, corporates and intelligence-providers alike.

Multiples and lack of covenants in the leveraged finance market are firmly in the firing line of US regulators. Sponsors say they can handle the new rules. Banks are already looking for ways round them. But with regulators hell-bent on proving a point in 2015, what will happen when a leading US company struggles, or fails, to refinance a cov-lite loan?

The main charge against Goldman Sachs by the US Senate committee investigating commodity market practices was that the bank effectively controlled actions by its metals warehouse subsidiary, Metro International, that created a bottleneck in aluminum supply, and that Goldman could have profited from associated trades in its securities arm.

Paul Simon sang that there are 50 ways to leave your lover, and Goldman Sachs has reminded us that there are just as many ways to sneak a trade through, even when conflicts of interest threaten to drag your reputation back into the mud.

Investment banks are keen to close the chapter on the foreign-exchange rate-rigging scandal after Wednesday’s announcement of regulatory fines totalling $4.2 billion, but more banks are expected to be fined and industry participants believe other nefarious practices should now be thoroughly investigated.

European proposals for mandatory clearing of non-deliverable forwards (NDFs) published in October seemed to be a decisive step toward a new framework for FX derivatives trading. However, responses to the consultation reveal deep divisions among FX market participants over the way forward.

Asset managers are still losing millions of pounds a year in hidden foreign-exchange bank charges, research shows, despite the advancement of money-saving solutions such as independent live benchmarks and transaction cost analysis (TCA).

Revenues on the rise; More lending and discretionary mandates.

BNY Mellon is to expand aggressively in the Asia-Pacific region, targeting increased market share in the wealth business, offering a discretionary model to customers.

Jon Macaskill imagines how the star fund manager might have recorded the reasons behind his shock move from Pimco to Janus Capital. Item one: update his enemy list.

As equity markets have sold off and investors rushed into risk-free bonds, even supposedly liquid US treasuries have seen prices gapping. As volatility rises and investors focus on grim fundamentals, they see a broken bond-market structure.

Market participants are relatively relaxed about the impact of last year’s change to the US trading model, relative to the dire warnings from the global trade association for OTC derivatives, but global market fragmentation remains a risk.

Commodities could be facing further weakness, amid falling demand in China and elsewhere. All eyes are again on the US, where strong growth could support prices and prevent a further sell-off of commodity currencies.

Since the US Federal Reserve met in September the data has been tortured and every word pored over. Why are we in awe of the crystal ball gazing of supposed experts?

Mexico’s government has introduced a swathe of structural reforms that aim to cut key input costs in the economy, arrest deteriorating productivity and improve the country’s long-term growth rates. However, it is the finance minister’s recent energy reforms that have most made economists and investors buoyant about the outlook for Latin America’s second biggest economy.

Treasury professionals of companies globally remain 'very concerned' about banking-sector stability despite unprecedented efforts by regulators and banks to stabilize the industry, according to Euromoney research.

European bond and equity markets have been happy hunting grounds for foreign investors of late, and demand for European assets has helped support the euro, despite economic headwinds. However, bankers now report a shift to increased hedging of European exposures, leaving the region’s currency relatively unprotected against interest-rate differentials.

The dollar has begun what many expect will be a prolonged march higher after a multi-year bear run. A strengthening greenback has traditionally been bad news for emerging markets and the early signs suggest this time will be no different.

Société Générale and BNP Paribas outline new plans to get their investment banking divisions growing again. The US market is central to the ambitions of both banks.

It has been a gruelling few days for Latin American currencies, which have borne the brunt of asset allocations away from EMs and into an invigorated greenback, ahead of expected rates rises – but analysts believe the longer-term outlook for the Mexican peso looks brighter than most other EM currencies.

Outflows improve collateralized loan obligation (CLO) deal economics and could drive the market to a record high.

The November G20 meeting could see the capital requirements of systemically important banks doubled.

A November rush to market is anticipated, but there are signs of a flight to quality by investors.

US indicators are slowly improving, but Euromoney’s country-risk experts are still not as confident in its creditworthiness compared with the rating agencies. The question is why?

The increasing investment by short-term funds in longer-term assets is a liquidity mismatch that is attracting growing regulatory attention. This comes as little surprise given the damage wreaked by just such strategies at the beginning of the financial crisis in 2007.

Regulators have been strident, if rather late, in their concern over the risk that short-term retail money now represents in today’s high yield corporate bond market. So when retail funds began to sell off in late July many braced for the worst. But by the end of August it was as if nothing had happened. The bond market’s ability to adapt may be greater than Federal Reserve chair Janet Yellen believes.

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As the Fed prepares for rate hikes, the hope is that the ECB stands ready to take over its mantle as chief global liquidity provider, raising the spectre of the euro becoming a more attractive funding currency for carry strategies.