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Banks were on the chopping block, again, on Wednesday, after Saudi National Bank’s Chairman Mr. Al Khudairy told Bloomberg TV that they wouldn’t inject more money to Credit Suisse (CS) as they already hold 9.9% of the bank and going above 10% would mean further regulatory and statutory requirements.
Credit Suisse stock sold off to a fresh record. The selloff in CS shares spread to other bank shares as well, and the bank stocks pulled the market down with them.
Since then, the Swiss National Bank (SNB) said it would provide 50 bn franc liquidity to Credit Suisse and FINMA...

Global banks, including the US regional banks, rebounded sharply on Tuesday.
The US inflation data came in line with expectations on a yearly basis.
Yet, the uptick in core inflation on a monthly basis to 0.5% - a five-month high, and the stickiness of services inflation above the 7% mark, revived the expectation of a 25bp hike from the Federal Reserve (Fed) at next week’s monetary policy meeting.
In Europe, the EURUSD is drilling above its 50-DMA, 1.0730, in the run up to Thursday’s European Central Bank (ECB) meeting, where the European policymakers could maintain the plan of a 50bp...

Monday was yet another ugly day for bank stocks around the world, as the selling pressure continued following the SVB debacle in the US last week.
The money flew into the safe havens.
Treasury yields around the world tumbled sharply. The S&P500 was flat, while technology stocks and gold rallied.
For now, the pricing on Fed funds futures suggests that there is slightly more than 70% chance of a 25bp hike next month, and slightly less than 30% chance for no rate hike.
But the expectations could easily change after US CPI data due later today.
Both headline and core...

The Silicon Valley Bank (SVB) and Signature Bank collapsed.
SVB’s flash crash raised questions that other similar local banks in the US could also experience liquidity issues and may not be able to pay their depositors back, unless they also start selling their probably loss-making portfolios.
The US authorities now step in to avoid contagion.
The bank crisis will likely interfere with Federal Reserve (Fed) rate hike expectations.
Activity in Fed funds futures now assesses more than 98% chance for a 25bp hike in March, not because the US jobs data was soft enough to overhaul rate hike expectations last...

Thursday could’ve been a calm trading session. Especially given that after a deluge of strong economic figures concerning inflation and jobs, the little uptick in the US weekly jobless claims to above 200’000 for the first time since January – and which sent the US short-term yields tumbling - could’ve given some piece of mind to investors and lead to a minor correction in equities before today’s all-important US jobs figures.
But, no.
A severe rout in banking stocks spoiled what could’ve been a calm session on Thursday. Silicon Valley Bank’s 60% plunge due to difficulties following sharp rise in...

Bulls in European equities didn’t’ really get washed out by the Federal Reserve (Fed) hawks; the DAX index closed higher at the wake of Powell’s first day of testimony before the Senate – which went badly hawkish on the other side of the Atlantic.
Yet, the selloff slowed yesterday as Powell said that the data will determine whether the Fed would increase the pace of the interest rate hikes, BUT that ‘no decision has been made on this’ yet.
The US 2-year yield extended its advance above the 5% mark, the 10-year yield hovered around the 4% level. But, the...

We have a volatile March ahead of us, mainly due to many events coming together. One of the biggets is the unlock of the staked Ether. Is a big dump ahead?

00:00 Intro
00:22 Preview
00:33 Bitcoin
06:58 Ethereum
09:22 Ripple
11:36 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

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Investors got a double shot of hawkishness from Federal Reserve (Fed) Chair Jerome Powell’s semi-annual testimony before the US Senate yesterday.
Powell’s comments sent the rate hike expectations significantly up and wreaked havoc across the US treasury and equity markets and the US dollar.
Moving forward, the next few data points will be VERY important in cementing the expectation of a 50bp hike at the March 21-22 FOMC meeting.
Today, the ADP report and job openings data. JOLTS data would better soften this month, after last month’s booming figure of 11 mio.
On Friday, February jobs report will be released....

Disenchanting growth target from China was expected to keep the oil bears in charge of the market, but the 100-DMA got surprisingly cleared to the upside yesterday.
Stocks closed flat and the dollar softened. The Aussie fell after the Reserve Bank of Australia (RBA) announced 25bp hike and the EURUSD flirted with the 1.07 mark.
Today, all eyes and all ears are on Federal Reserve (Fed) Chair Jerome Powell and what he thinks about the latest set of economic data.
Since the latest FOMC meeting, we saw a blowout NFP number, an uptick in inflation figures, lower-than-expected decline in the...

There are plenty of reasons that should push equities lower, but equities continue trending higher.
Both European and American stocks closed last week with gains, and futures hint at a positive start to the week despite China’s announcement of a modest 5% growth target.
But the 5% growth target raises concerns about the amount of stimulus that the Chinese will put on the table, and the possible continuation of the government crackdown.
China’s modest 5% growth target weigh on energy and commodity prices. Iron ore and copper futures are down, and US crude’s 100-DMA resistance, around the $80pb level, will...