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Markets tumbled yesterday after president Trump announced further trade tariffs, this time aimed exclusively at China. The extent of the fall indicates that despite some protectionist measures already being priced in to the market, the recent ousting of moderate senior figures in the White House is translating into a more belligerent administration, hence causing market...
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The U.S. is seeking to impose sanctions on ABLV Bank, the third largest financial institution in Latvia by assets. FinCen, the U.S. Financial Crimes Enforcement Network, released the following memo on 13th February: WASHINGTON – The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today issued a finding and notice of proposed rulemaking...
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The sharp correction of the last two days is a reminder of how inherently unstable markets are. The trigger, a larger than expected increase in Average Hourly Earnings in the US, cannot itself explain such a violent gyration. In fact, US Treasury yields have been steadily rising since the summer (see graph below), when macro...
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We have been informed by the Swiss Bank “UBS” that there has been an internal review of bank accounts which are ultimately owned by Ukrainian Tax Residents. These guidelines apply to both existing and new clients of the bank, and are as follows: Natural Person Bank Accounts Clients will need to provide a self declaration...
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