Crude oil faced a bumpy session in US trading overnight on the back of the DOE’s Weekly Petroleum Status Report. As suggested in yesterday’s commodities report; another greater-than-anticipated drawdown in total stocks would likely prove insufficient to yield a recovery for WTI. Indeed, the benchmark seemed to take its guidance…
Global Briefing
HMRC’s Latest Initiatives Target Hidden Wealth
Since 2010, the Conservative government has subjected Britain’s public sector to an aggressive programme of deficit reduction to restore order to UK public finances. One consequence of this initiative is that the British public is easily exasperated by the thought of individuals and companies that avoid paying…
Treasury Targeting FX Reform
For several months now, George Osborne has been planning to make manipulation of foreign exchange, fixed income and commodities benchmarks a crime in order to maintain London’s status as an international banking and markets hub. The upcoming reforms will be informed by a review by the Bank of…