News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

U.S. vs Europe: The Political Risk Reverses in Markets

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U.S. political turmoil, set against relative eurozone calm, is steadily narrowing the gap between U.S. and German bond yields.

Fed's Bullard: Markets Don't Agree With Fed Rate Hike Path

St. Louis Fed President James Bullard warned that financial markets don't appear to believe the U.S. central bank is planning to continue forward with interest rate rises.

Chinese Brokerage Sealand Hit With Underwriting Ban

The China Securities Regulatory Commission barred Guangxi-based Sealand Securities from underwriting bonds for a year over a forged-stamps scandal that rattled the industry in December.

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ECB Calls for More Pan-European Bank Mergers

The European Central Bank called on eurozone banks to engage in more cross-border mergers, warning that a lack of integration in the region's financial markets harmed its ability to set monetary policy.

Fed Markets Lieutenant Suggests Reverse Repos May Be Too Critical to Phase Out

Federal Reserve Bank of New York Senior Vice President Lorie Logan suggested that a key part of the central bank's post-crisis toolkit for controlling interest rates is so helpful, it may be challenging to remove it again.

Jim Chanos Predicts Stock Drop for Mallinckrodt

Noted short-seller Jim Chanos predicted a fall for shares of pharmaceutical maker Mallinckrodt PLC at the annual SALT hedge fund conference in Las Vegas on Thursday.

Trump's Glass-Steagall May Be Less Onerous Than Big Banks Fear

Treasury Secretary Steven Mnuchin told a congressional panel that a breakup of the big banks isn't what the Trump administration has in mind when it comes to a modern version of the Glass-Steagall Act.

Leon Cooperman Settles Insider Trading Case

Hedge-fund manager Leon Cooperman and his firm have agreed to pay $4.9 million as part of a civil settlement of insider trading charges brought by securities regulators.

CPPIB Reports 12% Return for Year

Canada's biggest pension fund reported a net asset return of 11.8% for its fiscal 2017, largely as a result of double-digit gains in equity investments.

Former OCC Examiner in Charge of Wells Fargo Sues Agency Seeking Records

The former Office of the Comptroller of the Currency examiner overseeing Wells Fargo & Co. is suing the regulator for allegedly violating a Freedom of Information Act request made seeking records over his administrative leave.

(END) Dow Jones Newswires

May 19, 2017 11:15 ET (15:15 GMT)