Traders bet the collapse of SVB will compel the Federal Reserve to halt interest rate hikes. Read more
First Republic Bank slumped 67 per cent before being halted amid growing worries about the state of U.S. regional banks. The KBW Bank Index is on track for its biggest one-day drop since the start of the COVID-19 pandemic.
“Bond yields go up, which signal to the rest of the market that there is an increasing probability of default and loss severity. Even if the bank is well capitalized,” she added.Article content “The Fed has to be off the table for now. They pushed on rates until something cracked, well guess what? Something cracked,” said Peter Tchir, head of macro strategy at Academy Securities, on Bloomberg TV.
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Stocks steady as investors bet SVB collapse will force Fed to halt hikesTraders bet the collapse of SVB will compel the Federal Reserve to halt interest rate hikes. Read more
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Safe-haven gold accelerates as traders assess SVB falloutGold raced towards the key $1 900 level on Monday as investors sought cover from the uncertainty triggered by the collapse of Silicon Valley Bank, emboldened by bets that the Federal Reserve may now have to tone down its rate hikes. Spot gold was up 0.9% at $1 885.37 per ounce, as of 09:04 GMT. Earlier in the session, prices hit their highest since early February at $1 893.96. US gold futures GCv1 gained 1.2% to $1 889.50. On Friday, gold gained 2% after California regulators closed tech startup-focused Silicon Valley Bank (SVB). Regulators also shuttered New York-based Signature Bank on Sunday.
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Can the UK save its startups as SVB fallout spreads around the worldBOE places the UK arm of the troubled Silicon Valley Bank under insolvency. The heads of 130 technology companies in the UK believe lender’s bankruptcy represents an existential threat to the UK tech sector. The UK is racing ahead of the clock to salvage the British arm of the collapsed Silicon Valley Bank after it […]
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Assessing Tron CEO Justin Sun’s take on SVB saga and USDC depeggingJustin Sun revealed his thoughts on the USDC depeg and was worried about its impact. TRX bounced courtesy of accumulation during its brief dip into oversold territory. Tron founder and CEO Justin Sun is among the blockchain industry leading figures that have weighed in on SVB saga and USDC’s depeg. The latter was not as […]
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Ripple discloses exposure to SVB; not caused business operations disruptionWhile the future of Silicon Valley Bank (SVB) is still being decided, another crypto player has declared exposure to the failed bank. And, this time around the firm in the headlines is Ripple – a popular blockchain-based digital payment network. In a Twitter thread, CEO Brad Garlinghouse stated that the company had exposure to SBV. […]
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Signature Bank closed by New York regulators in fallout from implosion of SVBU.S. regulators are racing against the clock to stop a potential contagion from spreading to other lenders.
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