failed to ease investor nervousness about the stability of the financial sector.
While stock market losses have subsided, there were still big questions about the future of Credit Suisse and how the financial industry will fare as higher interest rates keep eroding the value of lenders’ fixed-income holdings.
In the bond market, credit-default swaps showed easing tension. Credit Suisse’s senior unsecured euro-denominated bonds due March 2029 recovered almost half of Wednesday’s losses, according to data compiled by Bloomberg. Commerzbank, Banco Santander, UniCredit and Barclays led gains among European banks.In an interview with CNBC, Credit Suisse’s biggest shareholder said the lender isn’t likely to seek more capital and the bank is generally “sound.
And ofcourse, no consequences for those responsible for making poor high risk decisions. Privatise the profits, socialise the losses.
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