Financial Markets
Top stories summarized by our editors
8/21/2018

Target's earnings report is due this week, and technical analyst Craig Johnson, CMT, says it could prompt a climb that takes the stock past the highest point in three years. The stock has gained 27% this year and is 2% off a July 2015 high, and Johnson says a positive report should propel it through resistance.

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CNBC
8/21/2018

The Securities and Exchange Commission has adopted amendments to a requirement that securities dealers make sure municipal bond issuers report financial information to bondholders. Under the revision, bank loans, privately placed debt and other material events must be reported to bondholders within 10 business days.

8/21/2018

Several cryptocurrency exchanges have joined the Virtual Commodity Association, which could become a self-regulatory organization. Commodity Futures Trading Commission member Brian Quintenz says he welcomes creation of an SRO for the industry, "given the absence of federal oversight jurisdiction in the cryptomarket."

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Brian Quintenz
8/20/2018

President Donald Trump has tweeted a requirement for publicly traded companies to release financial results quarterly should be changed to semiannually. The Securities and Exchange Commission is studying reporting requirements, Chairman Jay Clayton says.

8/20/2018

An obstacle to global adoption of legal entity identifiers is US regulators' refusal to do more than to recommend adoption, rather than mandating it, Neil Roland writes. This is despite a call on regulators from the US Office of Financial Research to require LEI adoption.

8/20/2018

Federal Reserve Chairman Jerome Powell, in his address at Jackson Hole, Wyo., this week, might address how the Fed plans to handle potential economic trouble spots. Other topics expected to be discussed include the size of central bank balance sheets and how global events affect various central banks' economic policies.

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MarketWatch
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Jerome Powell, Fed, Jackson Hole
8/20/2018

The majority of economists responding to a Bloomberg survey expect the Bank of England to raise interest rates twice next year, to 1.25%. Brexit is a challenge but should not deliver "a big shock" to the British economy, Investec economist Victoria Clarke says.

8/20/2018

Deutsche Bank has offered to buy bonds of commodity trader Noble Group. A shareholder vote on a restructuring plan for Noble is scheduled 27 August.

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Deutsche Bank, Noble Group
8/20/2018

Fears are mounting Italy is on the verge of a fresh crisis as its coalition government emits mixed messages on whether it will maintain fiscal discipline or will call on the European Central Bank to support electoral promises for spending. Giancarlo Giorgetti, Italian Cabinet undersecretary, says the ECB should extend quantitative easing and buy Italian bonds.

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European Central Bank, ECB
8/20/2018

A European Central Bank plan to normalise monetary policy is on track, says Jens Weidmann, president of Germany's Bundesbank. The ECB aims to end bond buying by year-end, clearing the way for gradual interest-rate increases, Weidmann says, and a forecast of 1.7% inflation in 2020 is in line with stability targets.

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Reuters