News Highlights: Top Financial Services News of the Day

02/06/18 11:15 AM EST
Banks Cheer Return of Wild Markets 

Banks have blamed placid markets for lackluster returns in their big trading operations. This week they're cheering the big market swings, seeing hope for a boost in fees that dropped off a cliff last year.

Fed's Bullard Says Strong January Jobs Data Unlikely To Spark Inflation 

Federal Reserve Bank of St. Louis President James Bullard said Tuesday that while the most recent set of jobs data showed strength, he doesn't see in it the makings of higher inflation.

Seven States Team Up on Fintech Licenses 

Banking regulators from seven states are streamlining the way they license some financial-technology companies, responding to the companies' complaints over having to obtain authorizations from each state in which they operate.

How Bets Against Volatility Fed Stock Market Rout 

A plunge in global equity markets has thrown light on the increasingly popular strategy of shorting volatility. The growth of this trade contributed to the largest fall in some U.S. equity markets since 2011.

Patchy Bitcoin Oversight Poses Hazards for Investors, Regulators Say 

U.S. regulators said Congress should consider expanding federal oversight of bitcoin and other cryptocurrency trading, as market cops amplify alarms about an asset class that is largely exempt from investor-protection laws.

What Was Really Behind the Stock Market Selloff? 

While fears about inflation and rising bond yields have played a role in the market selloff, other less-fundamental factors-such as volatility sellers, risk-parity funds and algorithmic trading-are contributing.

Bitcoin Falls Below $6,000, Plummeting 70% From December High 

The cryptocurrency's price slid as low as $5,995.58, according to CoinDesk. It's fallen 70% since a record high of near $20,000 in December, a drop that's intensified in recent weeks following a global regulatory crackdown on the cryptocurrency market.

Stocks Plunge and Traders Panic: 'Did Someone Fat Finger This?' 

The market carnage that started in the U.S. rippled across Asia and Europe, leaving traders, investors and strategists befuddled as to how to cope with the sharp and sudden declines, particularly after such a long stretch of historically low volatility.

Why Banks Will Cut Stock Market Fuel Supply 

When stock markets plunge suddenly, margin calls are never far behind. This time, banks already have reason to be nervous about lending against shares.

Fed Backs Marijuana-Focused Credit Union 

A Federal Reserve Bank has given conditional approval to a Colorado credit union to serve marijuana-related businesses, though to win the Fed's backing it agreed to step back from its original plan to serve state-licensed dispensaries


(END) Dow Jones Newswires

February 06, 2018 11:15 ET (16:15 GMT)

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