Bloomberg Nordic banks, once coveted as the best-run and best-capitalised in Europe, appear to be losing their luster. After publishing first-quarter results, banks based in Sweden and Denmark are among the year’s worst performers in the Bloomberg index of European financial stocks. In fact, you need to have been an investor in Banca Monte dei Paschi di Siena SpA or …

Bloomberg Fast-money investors have their fingerprints all over last month’s Treasury selloff — and that may be good news for bulls hoping for a reprieve. Commodity trading advisers, who use a momentum-driven investing style, flipped from neutral to a short position in the 10-year US Treasury futures contract on April 18, helping to send the note itself racing to 3 …

Bloomberg Mexico’s monetary authority asked about a dozen banks to take emergency measures to shore up the country’s electronic payment network after a suspected cyber attack disrupted some transfers last week. The lenders have been instructed to connect to the system via a backup method that’s seen as less vulnerable to outside intrusions, but has never before been so heavily …

Bloomberg A rate used to price loans in Saudi Arabia climbed to the highest level since the financial crisis. But unlike 2016, it’s the race to stay ahead of Libor, and not a liquidity squeeze, that’s raising borrowing costs. The three-month Saudi interbank offered rate advanced on Tuesday to 2.38625 percent, two basis points above the London interbank offered rate …

Bloomberg Australia’s beleaguered banks are facing up to a bleaker future. In another bad day for the industry, a scathing report released on Tuesday into the nation’s largest lender found a “widespread sense of complacency” from the top down blinded it to risks that led to a massive breach of anti-money laundering laws. And in a stark warning the good …

Bloomberg In a week where equity investors got spooked by higher rates and peaking growth, robust earnings from tech giants fell just short of keeping the market afloat. Stocks got slammed when Caterpillar’s “high water mark” comments on profit came just hours after the first 3 percent yield on 10-year Treasuries in four years. It took earnings-fuelled rallies from heavyweights …

Bloomberg A new decentralised cryptocurrency market co-founded by a veteran of automated trading firm Virtu Financial Inc. handled more than $1 million of transactions. Michael Oved’s company, AirSwap, which began operations last week, probably feels like a contradiction to many on Wall Street: A market with no central place where buyers and sellers gather. Instead, bulletin boards on the company’s …

Bloomberg Investors who pushed up Chinese bank shares last week on news of lower reserve requirements may have been celebrating too soon. The subtext to the move is an effort to prepare the banks for a painful new phase in China’s campaign to reduce financial-sector risks, as regulators free up deposit rates and accelerate their crackdown on the nation’s as …

Bloomberg Deutsche Bank AG is retreating from its Wall Street rivals. Barclays Plc still thinks it can take them on. The paths of two of Europe’s biggest investment banks are diverging after trading revenue slumped 17 percent at Deutsche Bank in the first quarter and climbed 8 percent at Barclays. The German lender outlined plans to retrench on Wall Street, …

Bloomberg Cyber attackers attempted to penetrate Mexico’s electronic payment systems, forcing three banks to enact contingency plans, according to people familiar with the matter. Three banks experienced “incidents” in recent days when operating the SPEI, Mexico’s interbank electronic transfer system, and will be connecting to the central bank’s network under “contingency schemes,” Banco de Mexico said in a statement. That …