Headlines 

Are You Pound-Proof Yet? The Brexit Endgame Is About to Begin

Time is running out to position for a disorderly Brexit. That’s the chorus growing louder among pound traders and strategists, with Morgan Stanley joining the said to be preparing for a failure to secure an accord on future economic ties with the EU, the European Council meeting in October and the U.K. Parliament vote on the final exit agreement in December or January are potential flash points, according to the U.S. bank. The pound fell to the lowest level in almost a year against the dollar Thursday, with losses deepening…

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Headlines 

I Think We Got Away With It: Listen to HSBC Trader Phone Calls

Here’s the challenge for U.S. prosecutors: convince a jury former HSBC currency trader Mark Johnson is guilty of front-running a $3.5 billion client order. Their strongest evidence is HSBC’s audio recordings of the phone calls between Johnson, the bank’s former global head of foreign exchange, and traders in London and New York, which take the jury back to re-live events of six years ago. The jury, which on Thursday started weighing the fraud case against Johnson, listened to numerous calls, including one where he said, “I think we got away with…

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