Morning roundup: Key trader to leave JP Morgan; Euro woes continue

We’re committed to keeping you and your clients up-to-date with global industry news. Every morning, we offer articles from around the web. Here are some selections:

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Key trader to leave JP Morgan The trader at the eye of the JP Morgan Chase storm is said to be stepping down.

Bruno Iksil, known in the City and on the Street as, the London Whale, was known for building outsized trading positions in the credit markets is expected to leave the bank. A Wall Street insider told Advisor.ca he’s already been let go.

As the total lost by the bank mounts, other investment houses take advantage of JP Morgan’s weak position. And, one NY Times columnists asks as key question: Aside from implications this debacle has on the strength of the coming Volker rule, did the bank break any existing laws?

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Euro woes, next round British PM David Cameron is the latest to add his voice to the cacophony of voices calling for the end of the Eurozone. Of course, if his country had adopted the Euro the zone might be solvent.

The U.S. Federal Reserve, meanwhile, has added Euro worries to its list of concerns that will be addressed by the committee that sets interest rates.

In Greece, voters are now looking at their latest round of elections as a plebiscite on the country’s status in the EU.

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Some numbers improve On the positive front, Japan posted a 1% rise in GDP. And Wall Street trend numbers show traders are absolutely bear-crazy on U.S. stocks.

Early rumblings on pending unemployment reports suggest they’ll provide some reasons to smile, although you’ll have to read between the lines.

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Enjoy your day, The Editors

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.