Credit Suisse's forced takeover by UBS involved $17 billion of Additional Tier 1 debt, shock absorbers if a bank's capital levels fall below a threshold, being wiped out.
Potential legal action is also possible after Swiss authorities ruled that holders of Credit Suisse AT1 bonds would The saga has also rocked the $275 billion AT1 bond market, as investors scrutinise debt prospectuses for clauses that could cast doubt over recovery prospects.U.S. data that will give insight into the health of the consumer and the state of inflation is timely for investors trying to weigh up whether the economy can stave off a downturn.March's reading of consumer confidence is due on Tuesday. The index unexpectedly fell in February.
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