dropped 6% in a chaotic day when several banks saw multiple trading halts because of the size of the moves.that shareholders and certain unsecured debtholders would not be protected -- something that might give investors in the banks pause.
There are also other hurdles to deals. The Biden administration has taken a tough stance on deals over antitrust concerns and it is not clear whether they would be receptive to rescue transactions now.
Sanctions taking their toll
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Analysis: As banks break, markets hear the sound of peaking ratesInvestors scrambled to pull down global rate expectations on Monday and abandoned wagers on steep U.S. hikes next week, reckoning the biggest American bank failure since the financial crisis will make policymakers think twice. EndTheFed FJB Never underestimate the stupidity of the Fed. And screw them for guaranteeing deposits beyond $250,000. My insurance co wouldn’t do that. They not gonna say “we know your insured for $X but we’re gonna give you more”. EndTheFed
Source: Reuters - 🏆 2. / 97 Read more »
Analysis: As banks shake, markets hear the sound of peaking ratesInvestors scrambled to pull down global rate expectations on Monday and abandoned bets on the Fed upsizing its rate hikes next week, reckoning the biggest American bank failure since the financial crisis will make policymakers think twice.
Source: Reuters - 🏆 2. / 97 Read more »