The Notebook: Neil Wilson on Credit Suisse, interest rates and Ayn Rand March 22, 2023 How did you go bankrupt?” Two ways. Gradually, then suddenly.” Hemingway’s wisecrack could be the epitaph for Credit Suisse, whose ignominious end caps a series of disasters at the Swiss bank, eventually bringing it to the brink on Sunday. UBS has probably done rather well, picking up CS for cents on the dollar, even if it will take [...]
Bank of England and Fed to ignore Credit Suisse chaos and hike interest rates this week March 21, 2023 The Bank of England and US Federal Reserve are this week expected to ignore the on-going financial market chaos which resulted in Credit Suisse being pawned off in a shotgun sale and hike interest rates. City analysts have tipped Fed Chair Jerome Powell and Bank Governor Andrew Bailey to prioritise fighting inflation instead of shielding [...]
European markets to open higher after Credit Suisse drama as investors split on central bank rate hikes March 21, 2023 European markets are set to open higher on Tuesday as investors bet that banking turmoil will put a halt to central banks’ battle to contain inflation The FTSE and Frankfurt’s DAX were called up 0.59 per cent while the CAC in Paris was called up 0.47 per cent. After the drama of the past few [...]
Will Bitcoin break $35,000 this month? March 20, 2023 Nigel Green highlights key pillars that could bolster Bitcoin's efforts to continue its upward pattern and potentially hit $35k this month.
Silver prices soar as investors turn to precious metal amid banking crisis March 20, 2023 Silver prices climbed above $22 per ounce today as investors turned to the precious metal amid an unfolding banking crisis.
Oil toils: Crude prices tumble as global banking chaos triggers recession fears March 20, 2023 Both major oil benchmarks have plummeted in this morning's trading, with investors spooked over the instability in the banking sector.
Banking crisis and Fed’s credit line: how does it work and how concerned should we be? March 20, 2023 Central banks around the world announced last night that they were taking steps to improve access to liquidity in the financial system. In a coordinated move reminiscent of Covid in 2020 and the financial crisis in 2008, central banks in the US, the eurozone, Britain, Japan and Canada announced new measures to calm financial markets. [...]
Hong Kong and Tokyo: Why Asian markets declined after Credit Suisse’ takeover March 20, 2023 Asian stock markets fell on Monday after Swiss authorities arranged the takeover of troubled Credit Suisse amid fears of a global banking crisis. Ahead of a Federal Reserve meeting to decide on more possible interest rate hikes, markets in Hong Kong, Tokyo and Sydney declined. While in Shanghai, stocks edged up. Oil prices also retreated. [...]
Fed set to hike rates by 25 basis points despite turmoil in US banking sector March 20, 2023 The Federal Reserve is expected to raise interest rates for the ninth time in a row later this week despite widespread instability in the US banking sector. According to Fedwatch there is a 62 per cent chance that the Fed will opt for a 25 basis point hike and 38 per cent chance that it [...]
Recession off the cards, getting over 50s ‘back to work’, strikes and banks take stock – the five best read stories on City A.M. this week March 17, 2023 It was the week UK Chancellor Jeremy Hunt laid out his first Spring Budget, but as pension savers and taxpayers looked on, fears of a recession appeared to fade, although the sagas of banks Silicon Valley Bank, Credit Suisse and on-going strikes raged on; here are the stories readers were flocking to on City A.M. [...]