Wall Street closed this Friday in red and the Dow Jones Industrials, its main indicator, fell 1.19%, when investors look with concern at the fall in First Republic Bank shares (-33% at closing), one day after a group of big banks came to his rescue. At the close of operations, the Dow Jones subtracted 384.57 … Read more
Bloomberg previously reported that Swiss authorities are considering partial or full nationalization of the country’s second-largest bank. Switzerland should have resorted to this extreme solution in the event that the merger with rival UBS could not be negotiated. As part of the deal, the Swiss central bank will also provide $100 billion to boost Credit … Read more
UBS Group has proposed to buy Credit Suisse Group for up to $1 billion. British newspaper Financial Times (FT) reported on the 19th as information of four people who know the situation directly. Swiss authorities, who are rushing to close the deal by Friday, are planning changes to the law to avoid having to go … Read more
Wall Street closed this Friday in red and the Dow Jones Industrials, its main indicator, fell 1.19%, when investors look with concern at the fall in First Republic Bank shares (-33% at closing), one day after a group of big banks came to his rescue. At the close of operations, the Dow Jones subtracted 384.57 … Read more
The US stock market fell back on the 17th. Global markets have been turbulent this week, with tech stocks benefiting from the turmoil. There are growing fears that the problems that rocked the banking sector could push the global economy into recession. stock closing price Compared to the previous business day Rate of change S&P … Read more
Six Bayes Business School (formerly Cass) finance scholars discuss the collapse of the Silicon Valley Bank (SVB) and subsequent action by HSBC to save its UK branch. pexels-karolina-grabowska-4386346Photo: Karolina Grabowski on Pexels What happened? On Friday, March 10, Silicon Valley Bank – one of the largest banks in the US and specializing in lending to … Read more
As banks began to fail in the United States, bond positioning changed. Inflation has been pushed aside as we head towards a recession. Yields plummeted and higher interest rates were no longer priced in. Meanwhile, stock markets are rising. The Nasdaq 100 Index has risen even as bank stress is expected to curb lending and … Read more
Troubled Swiss bank Credit Suisse will boost its liquidity by using an option to borrow up to 50 billion Swiss francs (1.2 trillion CZK) from the Swiss central bank. This is reported by the Reuters agency with reference to the statement of the second largest Swiss bank. On Wednesday, local financial institutions informed that the … Read more
The online platform for the new regulation for repaying debts in 36-72 installments is expected to open immediately after Easter, for thousands to be able to rearrange the debts they incurred between November 2021 and February 1, 2023. In the same period the procedure will begin for the return into the 120-installment payment scheme and … Read more
Credit Suisse Group AG’s one-year bond default guarantee fee has approached 1,000 basis points (bp = 0.01%). This usually indicates a serious investor concern. A one-year credit default swap (CDS) backing Credit Suisse bonds was quoted at 835.9 basis points (bp = 0.01%) at the close of trading on Tuesday, according to CMAQ data. Other … Read more