The global bond market enjoyed a powerful rally yesterday as investors bet that Christine Lagarde’s nomination to be the next president of the European Central Bank would extend an era of ultra-loose monetary policy in the eurozone.

***

The UK’s markets regulator the Financial Conduct Authority (FCA) has proposed a ban on financial instruments linked to digital cryptocurrencies such as bitcoin.

***

Facebook will face Austrian privacy activist Max Schrems next week at Europe’s top court in a landmark case that could affect how hundreds of thousands of companies transfer personal data worldwide as well as Europeans’ privacy rights.