Money-market indicators that traditionally warned of stresses in the financial system are being muffled by a deluge of central bank cash as the euro- region crisis focuses on Greece’s future in the currency bloc and the meltdown of Spanish lenders.
Five Forty Aviation Ltd. said it withdrew Fastjet Plc’s rights to use the Fly540 brand in a dispute over licensing fees and has notified airline regulators in Tanzania, Angola, and Ghana of the change.
The chains of loaned securities being pledged and re-pledged in the so-called wholesale money markets are growing shorter, as collateral piles up at central banks where it can’t generate additional borrowing.
U.K. government bonds rose after a report showed British house prices fell more than estimated last month, indicating the economic recovery may not be strong enough to withstand an increase in interest rates.
The Wholesale Markets Brokers’ Association said trading in derivatives based on its repurchase overnight index average, or Ronia, will start next month, offering a hedge against pound-denominated bond investments.