WASHINGTON—A federal appeals court reversed the convictions of two former Deutsche Bank AG traders found guilty of rigging a global lending benchmark, overturning one of the US government’s highest-profile court victories linked to the 2008 financial crisis. The decision Thursday dealt a blow to the legacy of an investigation into which Washington poured resources after … Read more
Istanbul’s stock market was twice forced to halt trading and the Turkish lira continued to fall on Friday as concerns mounted that recent rate cuts could spark an inflation spiral. Turkey’s benchmark Borsa Istanbul 100 index fell 8.5% on Friday on its worst day since March, triggering two circuit breakers that halted trading. The lira … Read more
Investors piled on government bonds and quickly adjusted their expectations for rate hikes in response to the new Covid-19 strain first discovered in South Africa. The 10-year US Treasury yield fell to 1.484% on Friday, from 1.644% at the end of Wednesday, according to Tradeweb. That marks the biggest drop in the trading session since … Read more