TOP MARKETS NEWS: Week 03/13 – 03/19

March 13, 2023
  

Weekend 03/18 & 03/19

Credit Suisse’s $17 Billion of Risky Bonds Are Now Worthless – bbg

Central banks announce new liquidity measures to ease banking crisis – ft
Coordinated central bank action to enhance the provision of U.S. dollar liquidity – fed
Anxious Traders Map Out Strategies for Monday Market Turmoil – bbg
Markets Eye Volatile Week With Credit Suisse, Fed as Catalysts – bbg
Credit Suisse Writes Down $17 Billion of Bonds to Zero, Angering Holders – Reuters
First Republic to Face Second S&P Downgrade in Less Than a Week – bbg
Fall of Credit Suisse shows more work is needed on bank risk – ft
UBS to Take Over Credit Suisse, Assume up to 5 Billion Swiss Francs in Losses – Reuters
UBS to buy Credit Suisse in historic deal to end crisis – bbg
UBS buys Credit Suisse for $3.2 billion as regulators look to shore up the global banking system – cnbc
US money market funds: cash is king amid banking turmoil – ft
UBS offers to buy Credit Suisse for up to $1bn – ft
Stockman On Washington’s Panicked Bailout Of Bank Deposits… Here’s What Comes Next – Zerohedge

Analysis-Bank Panic Raises Specter of 2008, May Bring Lasting Change – Reuters
Your Saturday US Briefing: Banks in Turmoil, Trump Faces Arrest – bbg
How Credit Suisse Has Evolved Over 167 Years – Reuters
ECB’s Wunsch Says Odds of Credit Suisse Bankruptcy Low: L’Echo – bbg
Goldman Sachs Cuts Outlook for European Bank Debt Over Credit Suisse Crisis – Reuters
Goldman Debt Strategists Cut European Banks Over Credit Suisse – bbg
Charting the Global Economy: ECB Hikes Despite Banking Turmoil – bbg
Historic Week in Bonds Told in Charts – bbg
Bank Stocks Resume Slide as Relief Over Rescue Fades – nyt

Friday 03/17

First Republic’s $30 Billion Rescue Fails to Soothe Investor Fear – bbg
Big Banks Agree To Historic $30 Billion Unsecured Deposit Injection In First Republic Bank – Zerohedge
Global Money Market Funds Draw Massive Inflows in Week to March 15 – Reuters

Bank Turmoil Helps Spur $500 Billion Advance in Big Tech Stocks – bbg
Pacific Western Bank Faced ‘Elevated’ Withdrawals After Bank Failures – Reuters
First Republic shares slid almost 33% after deposit infusion, dragging down other regional banks – cnbc
Dow closes nearly 400 points lower on Friday as First Republic and regional banks resume slide: Live updates – cnbc
UBS to Explore Credit Suisse Deal in Crisis Combination – bbg
Analysis-As Worries Over Banks Swirl, Investors Seek Protection Against Market Crash – Reuters
US Bank Deposits Fell $54 Billion In Week Before SVB Collapse – bbg
Moody’s Downgrades Credit Ratings on First Republic Bank – Reuters
First Republic Cut to Junk by Moody’s After $30 Billion Rescue – bbg
Crypto market cap reclaims $1T, and derivatives point to further upside – cointelegraph
Bitcoin Believers Revel in Told-You-So Moment, Big Rally as Banks Crumble – bbg
Stocks making the biggest moves midday: First Republic, FedEx, Nvidia, Bumble & more – cnbc
U.S. Consumer Sentiment Ebbs in March; Inflation Expectations Fall – Reuters
US Year-Ahead Inflation Expectations Drop to Lowest Since 2021 – bbg
UMich Inflation Expectations Drop To 2-Year-Lows, Overall Sentiment Weakens In March – Zerohedge
World’s Biggest ETF Adds $7.3 Billion in Day After Bank Rescues – bbg

Marketmind: Shock and Awe – or Mayday? – Reuters

US PREMARKET
OECD Hikes Growth Outlook, but Warns Recovery Fragile – Reuters
US Factory Output Increased in February for a Second Month – bbg
Fed Alarms at SVB Began More Than Year Ago as Examiners Changed – bbg
Xpeng’s Loss Widens and Sales Outlook Dims With 48% Drop Seen – bbg
Where to Look for Signs Financial Turmoil Is Impacting the US Economy – bbg
From spying to Swiss bailout: How years of turbulence at Credit Suisse came to a head – cnbc
Volkswagen Joins China Price War as New Emissions Rule Looms – Reuters
European markets expected to open higher after bank lifelines eased crisis fears – cnbc

Asia markets rise as Wall Street banks move to shore up banking system – cnbc
China cuts RRR rate to consolidate economic growth trend amid global fluctuations – gt
China Cuts Reserve Requirement Ratio To Boost Economy – bbg
Japan’s Labor Unions Set to Win Biggest Pay Increases in Decades – bbg
Asian Bank Stocks Regain Footing After US Peers Rally on Rescue – bbg

Asia Stocks Poised to Follow US Bank-Rescue Rally: Markets Wrap – bbg
Marketmind: This Is What a Relief Rally Looks Like – Reuters

 


Thursday 03/16

Business Live – guardian

ECB Sets Rate Hike Template as Fed Opens Liquidity Tap – Reuters
DoubleLine Capital CEO Gundlach says a US recession is probable by mid-July (this year) – forexlive
Fed Balance Sheet Explodes By $300BN As Bank Bailouts Lead To Record Discount Window Surge – Zerohedge
Banks Sought Record Fed Liquidity in Wake of SVB Collapse – Reuters
Banks Borrow $164.8 Billion From Fed in Rush to Backstop Liquidity – bbg
Banks take advantage of Fed crisis lending programs – cnbc
Stocks making the biggest moves after hours: FedEx, First Republic Bank and more – cnbc
FedEx Soars After Boosting Earnings Forecast Amid Aggressive Cost-Cutting – Zerohedge
FedEx Raises Fiscal 2023 Earnings Forecast, Shares Soar – Reuters
FedEx hikes 2023 earnings forecast as cost-cutting initiatives bear fruit – cnbc
Stocks bought and bonds sold as distressed banks are offered a lifeline – Newsquawk US Market Wrap – Zerohedge
Stocks Soar As Big-Banks’ Depo-Reacharound Rescues Regionals; Bonds Dumped – Zerohedge
Stocks close higher, Dow jumps more than 300 points as banks step in to aid First Republic – cnbc
Schwab Clients Pull $8.8 Billion From Prime Funds in Three Days – bbg
Lockdown Logic Rears Its Head in Stock Rally Running on Nerves – bbg
Stocks making the biggest moves midday: First Republic, Signet Jewelers, Snap and more – cnbc
Bank shares rebound off lows as big banks come to the aid of First Republic – cnbc
US Regulators Say Deposits Into First Republic Bank Show System’s Resilience – Reuters
First Republic Gets $30 Billion of Bank Deposits in Rescue – bbg
SVB to Credit Suisse: Central Banks’ Rate Hikes Finally Hit Home – bbg
Crypto ETP-Provider 21Shares to Shutter Funds as Demand Fades – bbg

Marketmind: Classic Safe Havens the Winners as Crisis Goes Global – Reuters

ECB Hikes 50bps, Is “Ready To Respond To Preserve Price And Financial Stability” – Zerohedge
European Central Bank hikes rates despite market mayhem, pledges support if needed – cnbc
UK bans TikTok on government devices following U.S. move – cnbc
Futures Rally Fizzles As SNB Bailout Underwhelms, Banking Fears Linger, ECB Looms – Zerohedge
Global Oil Production Dropped To A 7-Month Low In January – Zerohedge
‘Bailout Bust’? European Bank Default Risk Rises As Credit Suisse Stock Tumbles – Zerohedge
Credit Suisse’s Troubles – Spies, Money Laundering and Central Bank Cash – Reuters
From Ferdinand Marcos To Russian Oligarchs, Troubled Credit Suisse Is A Flagrant Recidivist – forbes
If It Looks Like A Bailout And Walks Like A Bailout It’s Probably A Bailout – Zerohedge
JPMorgan Joins Those Saying Cash in Bond Gains as Hikes Possible – bbg
JPMorgan Says Fed’s Loans Will Provide $2 Trillion of Liquidity – bbg
Quinn: Is The US Banking System Safe? …15 Years Later – Zerohedge
New EIA Report Reveals Massive Downward Reductions In US Shale Oil Output – Zerohedge
Credit Suisse Bonds Sink Deeper Into Distress as Hopes Fade – bbg
Bailout Arrives: Credit Suisse To Borrow $54BN From SNB To “Pre-emptively Strengthen Liquidity” – Zerohedge
Credit Suisse to Borrow up to $54 Billion From Central Bank – bbg
Credit Suisse to borrow up to nearly $54 billion from Swiss National Bank – cnbc
European markets set to rally after Swiss central bank steps in to help Credit Suisse – cnbc

Asia-Pacific markets fall on bank fears, Credit Suisse announces ‘decisive action’ to borrow – cnbc
Asian Bank Selloff Resumes With Credit Suisse as Fresh Trigger – bbg
China Real Estate Showing Signs of Recovery After Slump – bbg
Yen Demand Catapults as Banking Crisis Wrecks US, Europe Havens – bbg

Bank Fears Rock Markets as Traders Weigh Fed Pause: Markets Wrap – bbg

 

Wednesday 03/15


The Great Hiking Cycle Is Seen as Done as Yields Drop Below Cash – bbg
A recession could come sooner on cooling bank lending – cnbc
Credit Suisse Crisis Crushes a Favorite Investor Trade of 2023 – bbg

Tech Stocks Emerge as Haven in Sell-Off Fueled by Bank Worries – Reuters
Credit Suisse death knell unwinds Tuesday’s recovery – Newsquawk US Market Wrap
Stocks making the biggest moves after hours: Credit Suisse, Adobe, UiPath and more – cnbc
“Panic, Meltdowns, People Crying…” – Zerohedge
The forgotten rescue plan that could prevent another SVB-like collapse – cnn
Dow closes more than 250 points lower Wednesday as bank crisis spreads to Europe: Live updates – cnbc
SVB Run Exposes Rifts in Typically Chummy Venture Capital World – bbg
Why we should care about Credit Suisse’s problems – axios
Santander Halts $942 Million Subprime Auto ABS Sale Amid Turmoil – bbg
Credit Suisse to Get Liquidity Backstop if Needed, SNB Says – bbg
Global Banks Rush to Safeguard Against Credit Suisse Contagion – bbg
Treasury Reviewing US Financial Sector Exposure to Credit Suisse – bbg
SVB Clients at Risk of Default May Have No Choice But to Return – bbg
Emerging-Market Fear Gauge Soars as Traders Brace for Turmoil – bbg
Stocks making the biggest moves midday: Credit Suisse, First Republic Bank, Halliburton and more – cnbc
From Biotech to Buzzfeed, These Were SVB’s Corporate Clients – bbg
Goldman Sachs cuts GDP forecast because of stress on small banks, which are key to U.S. economy – cnbc
Speculators build $16 billion bearish bet on Europe’s banks – Reuters
Fed Traders Price In 100 Basis Points of Rate Cuts From May Peak – bbg
Fed’s New Banking Backstop Could Slow Balance Sheet Drawdown – Reuters
JPMorgan Cranks up Equities ‘Underweight’ After Market Rout – Reuters
Short Sellers May Pocket $2.3 Billion From U.S. Bank Rout Over Last Three Days -S3 Partners – Reuters

Marketmind-Deep Breaths as Banks Calm, but Only a Bit – Reuters

Stocks making the biggest moves premarket: Credit Suisse, Lennar, PacWest & more – cnbc
World oil demand to hit fresh highs in 2023 as China rebounds: IEA – sp
“The Market Is Being Brutal”: Futures Crash As Banks Crisis Slams Europe, Credit Suisse Craters – Zerohedge
Fed Gets More Room to Pause Rate Hikes After Drops in Producer Prices, Retail Sales – bbg
Retail Sales & Producer Prices Drop In Feb – Zerohedge
U.S. Producer Prices Unexpectedly Fall in February – Reuters
US Retail Sales Point to Underlying Strength in the Economy – Reuters
Ray Dalio Warns SVB’s Collapse Shows Cracks Widening in Global Finance – bbg
Credit Suisse Is Fueling a Broader Rout in European Bank Stocks – bbg
Credit Suisse Dollar Bonds Due 2026 Plunge to Distressed Levels – bbg
Credit Suisse Top Shareholder Rules Out More Assistance to Bank – bbg
Treasury Yields Collapse After First Republic Downgrade To ‘Junk’ – Zerohedge

 

03/14

Global markets gripped by Silicon Valley Bank collapse as banking shares slide – business live – guardian

OPEC raises Chinese oil demand growth forecast further – Reuters
Stocks making the biggest moves premarket: First Republic, Western Alliance, Uber, Lyft and more – cnbc
Silicon Valley, Signature banks lobbied hard to loosen bank rules – thehill
Riskiest US Junk Bond Spreads Vault Over 1,000 Basis Points – bbg
Cryptoverse: New Breed of Bitcoin NFTs Sell for Millions – Reuters
Credit Suisse warns of ‘material weaknesses’ in financial reporting – guardian
Moody’s Downgrades Signature Bank to Junk, Places Six U.S. Banks Under Review – Reuters
Moody’s Puts First Republic, Five US Banks on Downgrade Watch – bbg
Moody’s Puts First Republic on Downgrade Watch on Outflow Risk – bbg
Analysis-SVB Collapse Unleashes Treasury Volatility, Whiplashing Investors – Reuters
Too-Big-to-Fail Lenders Rake In Deposits After Three Banks Fail – bbg
Global Financial Stocks Lose $465 Billion on SVB Impact Worry – bbg
European stocks head for higher open but SVB’s collapse rattles global market confidence – cnbc

Marketmind: Ready or Not! Here Comes US Inflation Data – Reuters

Asia markets tumble led by Japan, South Korea and Hong Kong as investors weigh SVB concerns – cnbc

Asia Braces for Turmoil as Traders Shift Rate Bets: Markets Wrap – bbg

Monday 03/13

Business Live – guardian
Global Bonds Stage Historic Rally as Traders Slash Fed Hike Bets – bbg
SVB Collapse Has Little Bearing on Europe’s Banks, Analysts Say – bbg
‘QE in Another Name’: New Bank Backstop Points to the End of Fed QT – bbg
THE FAILURE OF SVB FINANCIAL – factset

United Airlines Forecasts First-Quarter Loss on Higher Costs – Reuters
Big Trouble In Little Banks – Bailout Sparks Buying Panic In Bonds, Bitcoin, & Bullion – Zerohedge
Yields & Financials in free fall amid haven flows on bank failure fallout – Newsquawk US Market Wrap
Dow falls for a fifth day despite emergency backstop of Silicon Valley Bank – cnbc
Fed: Details on Which Banks Use New Facility Released a Year After It Ends – Reuters
Fed to Publish New Emergency Loan Totals This Week Without Naming Names – bbg
Nomura Calls For Rate Cut At Next FOMC Meeting, End Of QT – Zerohedge
Morgan Stanley, BlackRock Funds Among Those Exposed to Regional Bank Failures – Reuters
Fed’s Oversight of SVB Questioned After Bank’s Sudden Failure – bbg
JPY and EUR to benefit, but NZD and AUD will be the biggest winners of a 1990s-style mild recession – SocGen – fxstreet
Credit Risk Surges as Investors Fear Bank Failures Threaten Markets – Reuters
Why regulators seized Signature Bank in third-biggest bank failure in U.S. history – cnbc
Stocks making the biggest moves midday: First Republic Bank, Moderna, Newmont, Illumina and more – cnbc
Charles Schwab Tumbles as Drop in Margin Balances Fans Concerns After SVB Collapse – Reuters
Now That the Fed Broke Something, Traders Overhaul Bets on Rates – bbg
Market Stress Indicators React Sharply After U.S. Bank Failures – Reuters
Trouble at SVB, First Republic Signal Reckoning for Tech Money Fueling California – bbg
It’s Low Rates, Not Fed Tightening, That Caused SVB Collapse – bbg
Rescue of Signature Bank Is ‘Not a Bailout,’ New York Governor Hochul Says – bbg
Ackman Says Regional Bank Stocks Are an ‘Incredible Bargain’ Now – bbg
Schwab Tumbles Most Ever as Firm Seeks to Calm Investors – bbg
European Stocks Log Steepest One-Day Fall This Year as Banks Extend Slide – Reuters
With Signature Bank’s Collapse, US Reformer Barney Frank Watches His Own Lender Fail – bbg
No Escape From Wild Stock Swings Amid SVB, Fed Outlook – bbg
1-Year Inflation Expectations Tumble At Fastest Pace On Record – Zerohedge
Short-Term Inflation Expectations Decline Sharply; Labor Market Expectations Improve – nyfed
Bank Rescue Doubts Persist as Shares of First Republic Plummet – bbg
Crypto Scours the Globe for Banks to Replace Collapsed US Lenders – bbg

Marketmind: Banks Rescued, Rates Recoil, Stress Builds – Reuters

 

US PREMARKET
Stocks making the biggest moves premarket: Illumina, First Republic, Seagen and more – cnbc
Futures Tumble, Yields Crater, Banks Plunge As Market Realizes Latest Bailout Is Insufficient – Zerohedge
Global Bonds Stage Historic Rally as Traders Slash Fed Hike Bets – bbg
US Regional Banks Remain Under Pressure as First Republic Sinks – bbg
Euro Zone Bond Yields Plunge as SVB Collapse Scares Investors – Reuters
SVB Failure Sparks Blame Game Over Trump-Era Regulatory Rollback – bbg
It’s Not Just Failing Banks: Here Are The Week’s Key Events – CPI, PPI, Retail Sales And An ECB Hike – Zerohedge
Fitch Ratings Raises Mid-Term Oil and Cuts Near-Term Gas Price Assumptions – fitch
Gundlach Warns of ‘Imminent Recession’ Amid Yield Curve Move – bbg
Goldman Sachs no longer expects the Fed to hike rates in March, cites stress on banking system – cnbc
Here’s What the Fed’s US Bank Rescue Means For Markets – bbg
US Yields May Jump Back to 4% as SVB Rescue Reverses Haven Trade – bbg
Ackman Says More Banks Will Likely Fail Despite Fed Intervention – bbg
Funds Bid for Stakes in Startups Banked by SVB at Steep Discount – bbg
SVB Bonds the US Says Will Be ‘Wiped Out’ Gain in Rare Session – bbg
Shadow Lenders Enter SVB Fray as Trapped Clients Seek Lifelines – bbg
First Republic Says Fed, JPMorgan, Push Liquidity to $70 Billion – bbg
Bank Rescue Doubts Persist as Shares of First Republic Plummet – bbg
Credit Suisse Shares Hit New Low – Reuters
Bitcoin jumps the most in almost a month after U.S. supports banking sector – bbg
Analysis-The One Pound Rescue: Inside the Rush to Save Silicon Valley Bank UK – Reuters
HSBC to Buy Silicon Valley Bank’s UK Arm for £1 in Tech Reprieve – bbg
Everything We Know About How the Fed Is Handling the SVB Crisis – bbg
U.S. government steps in and says people with funds deposited at SVB will be able to access their money – cnbc
US Moves to Protect Depositors, Backstop Banks in Wake of SVB – bbg
Porsche Sees Stable Returns, Confirms Plan for Top-Line SUV – bbg
Regulator takes control of SVB’s Canada unit, seeking windup – bbg
Billions Worth of Crypto Trades at Risk as Bank Shutdowns Take Toll – bbg
Signature Bank Closure Deals Another Blow to Crypto Industry – bbg
European markets head for positive open as investors keep an eye on Silicon Valley Bank fallout – cnbc

Hong Kong stocks gain 2% as China markets buck trend; investors weigh Silicon Valley Bank concerns – cnbc
SVB Crisis Drives Concern Over Japanese Banks’ Exposure to US Bonds – bbg
BOJ Pivot Pressure to Ease as SVB Collapse Drags US Yields Lower – bbg
These Are the HK-Listed Firms Exposed to Silicon Valley Bank – bbg
China Could Control a Third of The World’s Lithium by 2025 – bbg
What Analysts Say About China’s Move to Stick With Economic Team – bbg

Asian Financial Stocks Decline as Investors Assess SVB Risks – bbg
Week Ahead: ECB Meeting; SVB Fallout; U.S. CPI, UK Budget; Chinese Data; OECD Outlook – cb

 

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