It’s shaping up to be a rather muted open in trading during what’s been a hectic week on equity markets.
Futures are holding near breakeven as we enter the Friday trading session to cap off a week where we saw wild swings due to concerns over contagion risks from SVB’s collapse, the continued saga over at Credit Suisse, and of course, the backdrop over rising rates and what the U.S. Federal Reserve will do at its rate decision next week.
SVB Financial has filed for Chapter 11 bankruptcy, exactly a week after a run on the bank pushed it into the hands of regulators. The Healthcare of Ontario Pension Plan posted its first annual loss since 2008, as both its equity and bond portfolios weighed on results.Notable data: Teranet/National Bank Housing Price Index, Industrial Product and Raw Materials Price Indices, International Securities Transactions, U.S. Industrial Production and Capacity Utilization, University of Michigan Consumer Sentiment Index, U.S.
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