A round-up of the key stories across the specialist financial media
Shunned Bund sale fuels debt crisis fears
The worst-received bond sale by Germany since the launch of the euro fuelled market fears that the continent’s debt crisis was now affecting Berlin, the region’s biggest economy and key to the survival of the single currency.
London banks seen rigging rates losing credibility with markets
Every workday morning in London, at about 10 o’clock, representatives from 19 banks make a series of decisions that affect financial transactions around the world, from what homeowners pay on their mortgages to the underlying value of credit-default swaps and corporate bonds
To drive more volume through their FX franchises, banks need a successful prime brokerage business. For RBS, an early entrant into FXPB, it holds the key to making up lost ground
Standard and Poor’s said Japanese Prime Minister Yoshihiko Noda’s administration hasn’t made progress in tackling the public debt burden, an indication it may be preparing to lower the nation’s sovereign grade
The Nikkei average fell more than 1.5 percent to its lowest intraday level since April 2009 on Thursday, hurt by a worrying German bond sale and expectations that mounting European debt concerns will continue to push overseas equities markets lower
