James
Well, it’s been a massive week on global markets, I reckon a once in a decade week. SVB had a unique clientele, it was the go-to bank for the venture capital and tech sector in the US. And that made things worse.It did make it worse because what happened, all of those tech companies that are flooded with capital, just put it in the bank on deposit, and the bank itself couldn’t lend the money fast enough. So, it invested in what we call a ‘carry trade’.
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Credit Suisse shares close near record low, sparking fears from investorsCredit Suisse shares close down more than 24 per cent, stoking fears of another bank collapse following the closing down of Silicon Valley Bank in the United States. And some this chain reaction is perfect ingredient for WW3 how much of a crash is needed. Many government's have much to hide a good way to avoid accountability. the contagion spreads...
Source: abcnews - 🏆 5. / 83 Read more »
Credit Suisse shares fall to record low as top investor rules out more fundingSaudi National Bank says it cannot stump up more cash because of regulatory restrictions
Source: GuardianAus - 🏆 1. / 98 Read more »
ASX LIVE: ASX futures tumble; Credit Suisse sinks, BHP, Rio, oil price plungeAustralian futures -1.7pc. Bond yields sink again. Gold climbs. Credit Suisse plunges 24pc, government steps in. Oil at lowest since Dec 2021. Follow updates here. fightclub moment incoming
Source: FinancialReview - 🏆 2. / 90 Read more »
Live: ASX to slide as Credit Suisse share plunge rattles marketsThe ASX 200 is expected to fall sharply when trade opens, after a plunge for giant Swiss bank Credit Suisse triggered a rout on European stock markets and losses on Wall Street overnight. Follow live on our blog. Let the games begin! When do I start writing cheques for billionaires? Pull out. No shares. No investment properties, buy GOLD! Get out of the pyramid scheme. 🛑 robbing future generations and growing inflation!! Buy gold. It’s real. Not numbers on a screen. Lol 😂
Source: abcnews - 🏆 5. / 83 Read more »
‘Material weakness’ found in Credit Suisse financesShares of Credit Suisse dropped by more than 20 per cent on Wednesday, sparking new fears over the stability of the global financial system after two banks collapsed in the US. Mr Phillips said shares were dropping as “investors were worried” that Credit Suisse will just no longer be able to pay its bills. “The good news is the Swiss National Bank has agreed to give Credit Suisse liquidity,” he told Sky News Australia. “We know when it comes to bank runs … it is liquidity that really brings these institutions undone. “If they have the cash, if they have the liquidity to make sure they can meet their obligations, that is going to slow down any potential domino. “But it does seem like there are material problems here.” The future is looking bright... 🤡 Switzerland National Government Debt reached 235.6 USD bn in Dec 2022, compared with 220.3 USD bn in the previous year. Switzerland National Government Debt data is updated yearly, available from Dec 1990 to Dec 2022.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Credit Suisse CDS reach crisis levels as banks rush to buy protectionSimilar moves were seen in the short-term credit derivatives linked to banks in the aftermath of the Lehman Brothers collapse in September 2008.
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