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Deutsche Bank FX trader admits manipulation of markets by central banks
And at Deutsche Bank they should know all about market rigging. Unfortunately the Bloomberg reporter lacked the sense or nerve to ask the guy to specify the markets most under manipulation.
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You've Been Warned: Central Bankers Turning Less Market-Friendly
By Simon Kennedy
Bloomberg News
Wednesday, June 17, 2015
Some things seem permanent. Greece is fighting for a bailout. A Bush and a Clinton are running for the White House. FIFA is plagued by scandal.
But for those who track the world's central banks, change is afoot.
Having soothed investors for the past seven years with low interest rates, bond buying, and other interventions aimed at shoring up weak economies, monetary policy makers are slowly stepping out of markets in a variety of ways.
That leaves investors facing renewed bouts of the volatility that marked recent weeks. A record number of investors told Bank of America Merrill Lynch this month that they have taken out protection against falling stocks over the next three months.
"2015 will go down as the year when major central banks hit an inflection point in their willingness to distort and manipulate markets," said Alan Ruskin, global head of Group of 10 foreign exchange at Deutsche Bank AG in New York. "This mix of overt and subtle withdrawal of market support is a key macro driver of recent increased volatility." ...
... For the remainder of the report:
http://www.bloomberg.com/news/articles/2015-06-17/you-ve-been-warned-cen...
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