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Bank stocks had a volatile session on Monday. UBS lost up to 16% after the Credit Suisse deal, but closed the session more than 1% higher.
In the US, JP Morgan, Goldman Sachs and Morgan Stanley closed the day with 1 to 2% of gains. The regional US banks also had a calm session, except for the First Republic Bank - which plunged 47% after a second credit downgrade in just a week from S&P.
In bonds, the announcement of full write-down of Credit Suisse’s AT1 bonds got bond investors confused, as equities should be written down before any other...

UBS bought Credit Suisse (CS) in a government-brokered deal for 0.76 cents of franc per share, or CHF3bn in total.
US dollar weakened and US futures opened in the positive but reversed losses while the Japanese Nikkei fell 1.42%, Hang Seng dropped more than 3%. HSBC lost 7%.
The next few hours of trading will give us a better picture on whether the crisis is contained. In theory, there is no reason for the Credit Suisse crisis to extend, as what triggered the last quake for Credit Suisse was a confidence crisis – which doesn’t concern UBS - a bank...

The European Central Bank (ECB) announced a 50bp hike at yesterday’s policy decision pointing at inflation expected to remain ‘too high for too long’.
The ECB decision came as a hint that the Fed could also play down stress in banking sector, highlight that the liquidity issues could be addressed with available tools and keep focus on economic data.
At the wake of the ECB decision, activity on Fed funds futures gives more than 80% chance for a 25bp hike. This probability was around 65% before the ECB’s decision.
Here is a couple of lines about what the ECB decision...

What a crazy weekend! How did the potential bank run influence crypto or did crypto have anything to do with the bank run? 🤔 Let's discuss it in this episode!

00:00 Intro
00:20 Preview
00:30 Bank-Run in the US
08:26 Cryptonews
10:30 Bitcoin
11:39 Ethereum
12:17 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

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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...