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We Are Seeing 'Blind Panic' - US Jobs Data Upstaged By Fears Of What Else May Be Out ThereMar 10, 2023 - 05:45:47 PST
Even though, for now, there seems to be little indication of a wider systemic risk from the distress surrounding Silicon Valley Bank, Bloomberg cross-asset strategist Ven Ram notes that traders are selling anything associated with risk first and asking questions later.
The Treasury Department is monitoring Silicon Valley Bank “very carefully,” White House Economic Advisor Bharat Ramamurti tells CNBC. “I don’t want to say more than that right now, but I want to assure the viewers that this is something we are on top of,” he says, while adding that this is a “highly fluid situation”
Developing...
SVB Financial Stock Slides 66% Premarket as Fears of a Potential Run on the Bank Continue: MWMar 10, 2023 - 05:38:31 PST
SVB Financial Group (SIVB) the parent of Silicon Valley Bank, saw its stock tumble more than 66% in premarket trade Friday, in a continued response to reports late Thursday that several funds were advising clients to pull their money, sparking fears of a run on the bank.
A widening bank rout has raised the stakes for key jobs data due Friday, as investors brace for a hawkish Federal Reserve to accelerate rate hikes even at the risk of tipping more lenders into distress.
‘Too Big to Fail’ Is Back: Bill Ackman Says Government Should Consider a Silicon Valley Bank BailoutMar 10, 2023 - 05:34:39 PST
The founder of Pershing Square Capital Management said the collapse of Silicon Valley Bank "could destroy a long-term driver of the economy."
Haruhiko Kuroda finished his last meeting at the helm of the Bank of Japan by buffeting markets again with a straightforward stand-pat that contrasted with the explosive launch of his massive stimulus program a decade ago.
The S&P 500 bank index tumbled nearly 6% on Thursday in its biggest one-day drop in over two years as investors fled the industry following SVB Financial Group's share sale announcement and crypto bank Silvergate's decision to wind down operations.
\Federal Reserve Chair Jerome Powell hinted that the central bank may re-accelerate the pace of its interest-rate increases if economic data warrants. But such a move would be a mistake, according to a bond manager who beat most of his peers last year.
Panic is spreading across the financial world as concerns about the stability of Silicon Valley Bank prompt prominent venture capitalists including Peter Thiel’s Founders Fund to advise startups to withdraw their money.
10 banks that may face trouble in the wake of the SVB Financial Group debacleMar 10, 2023 - 05:25:25 PST
Silicon Valley Bank wasn't well positioned for rising interest rates, leading to losses and a dilutive capital raise. Other banks show similar red flags.
10 Banks That May Face Trouble in the Wake of the SVB Financial Group Debacle: MWMar 10, 2023 - 05:25:25 PST
Silicon Valley Bank wasn't well positioned for rising interest rates, leading to losses and a dilutive capital raise. Other banks show similar red flags.
Sticky price pressures will make it harder for central banks to stay committed to current inflation targets, a narrative that will drive currency markets from here on, Bank of America Corp.’s strategists say.
Equity investors who piled into financial stocks to ride out the harshest Federal Reserve tightening cycle in four decades are getting a reminder that surging interest rates aren’t always a blessing.
The budding crisis in the banking world has created another challenge for Jay Powell and the Federal Reserve as they try to tame inflation with interest rate hikes.
Government bonds surged and stocks slid as signs of distress at a California lender spurred broader worries over the US banking sector’s debt holdings.
Concerns about a California bank come at a time when investors have been flipping between worrying about the economy and seeing an end to the recent market turmoil.
SVB Financial Group (SIVB), which is partnered with nearly half of all venture-backed tech and health care companies in the United States, was forced to raise capital after it sold part of its portfolio of US Treasuries at a loss to cover a rapid decline in customer deposits.
There has been a lot of talk about central bank digital currencies (CBDCs) lately. Supporters tell you they will provide a safe, secure, convenient alternative to cash. But in this episode of the Friday Gold Wrap, host Mike Maharrey digs deeper and explains that CBDCs are actually about more government control. He also talks about how Jerome Powell talked and tanked the markets this week.
With the biggest U.S. Bank Run in over a decade, investors and depositors are concerned if this will spread throughout the banking industry. Today, Financial Regulators stepped in and shut the doors at Silicon Valley Bank, but the FDIC said depositors will have access to their "Insured deposits" no later than Monday...
Rob McEwen, Executive Chairman of McEwen Mining, discuss how the devaluation of fiat currencies could push gold to $5k per ounce by 2027, and another metal will gain by 1,000%.