UBS AG, Switzerland’s biggest bank, dismissed currency strategist Chris Walker as part of its plans to cut about 10,000 jobs to revive profit.
The European Central Bank’s plan to shield its Greek bond holdings from a restructuring may hurt private investors while paving the way for debt insurance contracts to be triggered.
Terry Duddy has described the U.K. retail market as “challenging” in every results statement since he led the separation of Home Retail Group Plc from former parent GUS Plc in 2006.
Carry trades funded in the yen and Swiss franc are becoming profitable as borrowing costs rise in Europe and Canada, according to UBS AG.
U.K. government bonds had their third consecutive weekly decline, lifting ten-year yields to an eight-month high, as faster-than-estimated inflation boosted expectations for interest-rate increases this year.
Not since before the global financial crisis have Europe’s banks been able to obtain dollars as cheaply as they can now, a development that may puncture the euro’s surprising strength.
U.S. House Democrats are looking to JPMorgan Chase & Co. , Goldman Sachs Group Inc. and Bank of America Corp. to pick up the tab for housing programs targeted by Republican budget cuts.
The dollar rose to a nine-month high against the yen before U.S. reports next week forecast to show growth in the world’s biggest economy is gathering pace while deflation persists in Japan.
The pound declined the most in three weeks against the dollar and gilts climbed after reports showed business expectations slumped and U.K. house prices fell.
"Since the basis swap has now normalized, it signals the deleveraging that has been the key to the euro's strength may have largely run its course."
- Chris Walker on Feb 23, 2014
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