US stocks had a mixed response to the US Federal Reserve's anticipated interest rate cut, with the Dow Jones Industrial Average rising 0.6% and the S&P 500 and the Nasdaq Composite declining. The Fed's emphasis on labor market risks suggests a steady course for the coming months, strategists believe.

The Bank of England is expected to slow its quantitative tightening program, reducing gilt sales from £100 billion to £70 billion. The UK Monetary Policy Committee is also expected to keep the benchmark interest rate at 4% because of persistent inflation, which held at 3.8% in August.

The Central Bank of Argentina has intervened to support the peso for the first time since President Javier Milei partially floated the currency in April, selling $53 million as the peso hit the lower limit of its exchange-rate band. The intervention comes amid political turmoil and a 12% decline in the peso in the last month.

US Federal Reserve Chair Jerome Powell highlighted growing signs of weakness in the US labor market as a primary reason for the latest rate cut. Recent data showed job creation falling below the level needed to keep unemployment steady, with the unemployment rate edging up to 4.3%, the highest in nearly four years. Policymakers noted that downside risks to employment have increased, prompting a shift in the Fed's focus from inflation to supporting jobs.

The UK government is set to delegate more regulatory responsibilities to the UK Financial Conduct Authority and regulated exchanges to enhance market regulation. Richard Knox of HM Treasury highlighted at an ISDA conference that the government will transfer the new transaction reporting regime to the FCA and position limit setting to trading venues. The move is part of a broader effort to streamline regulations and reduce costs for businesses.

The US SEC has approved rule changes that allow national securities exchanges to use generic listing standards for new spot cryptocurrency and other commodity ETFs. This decision marks a major shift from the previous case-by-case approval process and is expected to enable dozens of new spot crypto ETFs, including those tracking solana and dogecoin, to launch more quickly.

The latest ISDA SwapsInfo Quarterly Review shows that interest rate derivatives trading activity increased in the first half of 2025, driven by continued interest rate volatility, evolving central bank policy expectations and persistent macroeconomic uncertainty. Click here to read the report.

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