operation by a Fed-led posse of major central banks. Incidentally, the BOJ's US$ tender today found no takers, suggesting there's no dollar drought in Asia as yet.
It's not helping that Credit Suisse shareholders are taking a nasty haircut in the deal, though not as painful as AT1 bond holders who seemingly won't get their $17 billion back. Volatility is still very much here, as two-year Treasury yields started at 3.90%, jumped to 4.03% only to come all the way back to 3.88%. Rates will no doubt have changed again by the time this sentence ends.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysis: Big money captivated by banking drama as investors brace for more turmoilHedge funds managers and other large investors believe it is far too soon to call an all-clear on turmoil in the global financial sector even after more than a week of financial lifelines, central bank assurances and a massive banking rescue deal. You don't say... How many times do we need to bail out these so called expert financial managers? The very gamblers that are at fault...
Source: Reuters - 🏆 2. / 97 Read more »
US and European policymakers issue statement following UBS-Credit Suisse dealIn a joint statement on Sunday, US Federal Reserve Chair Powell and Treasury Secretary Yellen said that “the US banking system's capital and liquidity
Source: FXStreetNews - 🏆 14. / 72 Read more »
European markets set for mixed open after UBS buys troubled rival Credit SuisseEuropean markets are heading for a flat to mixed open on Monday, with regional markets lacking direction at the start of the new trading week.
Source: CNBC - 🏆 12. / 72 Read more »