The FX industry has moved on from the fixing scandal and now wants to write its next chapter, underpinned by a new code of conduct. But liquidity remains fragile, volume is down and further challenges lie ahead.

View results of the Euromoney FX Survey 2017 here.

Central bank risk, not political risk, should be bond investors’ primary focus.

The shrinking number of publicly listed stocks is a growing worry for policymakers concerned about job creation, income inequality and consolidation towards monopoly pricing among a few very large and profitable quoted companies, but the real story is growing sophistication in private financing.