TOP MARKETS NEWS: Week 03/20 – 03/26

March 20, 2023
  

Weekend 03/25 & 03/26

Top 5 things to watch in markets in the week ahead – investing
Fed’s Preferred Inflation Gauge Seen Staying Elevated: Eco Week – bbg

Banking Stress Puts U.S. and Europe on Watch for Credit Crunch – bbg
Euro Rally Puts $1.10 in Sight With ECB Now Last Hawk Standing – bbg

Factbox: the Biggest Financial Crises of the Last Four Decades – Reuters
Analysis: Wall Street Push for Bank Rescues Clashes With Washington Realities – Reuters
Money market funds swell by over $286bn as investors pull deposits from banks – ft
Fed’s Kashkari Says Bank Strains Bring Risk of Recession Closer – bbg
Investors Brace for Another Week of Turmoil as Mad March Ends – bbg

 

Friday 03/24

Business Live – guardian
Europe’s Stock Slump a Sign Recession Trade is in Full Swing – bbg
Short Sellers Step Up Bets Against Office Owners on Bank Turmoil – bbg
Real Estate Leader on NY Fed Board Warns on Commercial Real Estate Risks – Reuters
The Fed Sees a Looming Credit Crunch. What’s That? – Reuters

Assets and Liabilities of Commercial Banks in the United States – H.8 – fed
Strong PMI data and hawkish Fed speak knocks bonds off peaks – Newsquawk US Market Wrap
‘What Lies Beneath’? Market Headlines Mask Mayhem Below The Surface This Week – Zerohedge
Stocks close higher Friday as investors try to shake off latest bank fears: Live updates – cnbc
How the 2023 Banking Crisis Unfolded – Reuters
Stocks making the biggest moves midday: Block, Deutsche Bank, GameStop, Activision and more – cnbc
Hedge Funds Seen Targeting Deutsche Bank in ‘Irrational’ Slide – bbg
Global Money Market Funds’ Weekly Inflows Hit 3-Year High – Reuters
Euro-Zone Core Inflation Set for New Record in Test of ECB Nerve – bbg
Deutsche Bank is not the next Credit Suisse, analysts say as panic spreads – cnbc
US Manufacturing & Services PMIs Come In Hot As Inflation Re-Surges – Zerohedge
U.S. Business Activity Accelerates in March – S&P Global Survey – Reuters

Marketmind: Bank Angst Persists, Unnerves Europe – Reuters

US Business Investment Appears Weak in First Quarter as Orders Rise Moderately – Reuters
US Durable Goods Orders Unexpectedly Drop In Feb; Weakest YoY In 2 Years – Zerohedge
Stocks making the biggest moves premarket: Deutsche Bank, Coinbase, Block, Marathon Oil and more – cnbc
The Great AT2 Escape – ft
European Banks Default-Risk Indicator Jumps, AT1 Bonds Fall – Reuters
Futures Tumble, Treasuries And Rate Cut Odds Soar Amid Panic That Deutsche Bank Is The Next To Go – Zerohedge
Biden Reaches Moment of Truth for Electric Vehicle Tax Credits – bbg
Tesla Is Losing a Big Force Behind This Year’s Rally – bbg
Peter Schiff: More Bailouts Are Coming Down The Pike – Zerohedge
Microsoft’s $69 Billion Activision Deal Gets Boost From UK – bbg
Fed Foreign Central Bank Tool Gets Tapped for Record $60 Billion – bbg
Deutsche Bank Junior Bond Surges as Firm Defies Call Skip Fears – bbg
European Stocks Fall as Deutsche Bank Leads Rout in Banks – Reuters
Deutsche Bank Is Victim of Irrational Market, Citi Analyst Says – bbg
Deutsche Bank shares slide 13% after sudden spike in the cost of insuring against its default – cnbc
Deutsche Bank and UBS shares hit as banking fears keep tight grip – Reuters
Euro Zone Services Firms Enjoy Buoyant March but Factories Struggle -Flash PMI – Reuters
Eurozone PMI posts surprise jump in March – ing
German business activity picks up in March, with inflation falling but still high due to services price pressures – pmi
Global Bonds Rally as UBS Slumps on Renewed Concern Over Banks – bbg
Swiss Franc Grapples With Safe-Haven Identity Crisis After Credit Suisse – Reuters
A ‘greenwashing’ crackdown in Europe hasn’t gone down well. Here’s what you need to know – cnbc
Global Oil Demand Tilts Toward India as China’s Growth Slows – bbg

Take Five: and Let There Be Calm – Reuters

Asia markets mixed as investors weigh Yellen’s remarks on banks; Japan core inflation slows – cnbc
Why Chinese Lenders Can Be Safe Haven Amid Global Banking Crisis – bbg
China is a ‘relative safe haven’ in the face of global banking stress, Citi economists say – cnbc
Profit Warnings Show Difficult Times Ahead for China Brokerages – bbg
Asian Company Earnings Cut on China, Global Slowdown Worries – Reuters
Unusual $828 Billion Loan Market Magnifies Housing Risk in Korea – bbg
Japan Inflation Slows Sharply Ahead of BOJ’s Ueda Transition – bbg

Asia Stocks Set to Fall After US Banks Extend Drop: Markets Wrap – bbg
Asian Shares Slide on Banking Concerns, Bonds Bet on Last Rate Hikes – Reuters

Marketmind: Banks Queue Round the Block at Fed Discount Window – Reuters

 

 

Thursday 03/23

Business Live – guardian
Citigroup Downgrades European Banks, Sees STOXX 600 Little Changed by Year-End – Reuters
‘Most Vulnerable’ U.S. Banks Lost $1 Trillion in Deposits in a Year -JPMorgan – Reuters
BofA, UBS Trim Forecast for Fed Funds Rate Amid Banking Crisis – Reuters
The Math Behind Deposit Insurance, And Why It’s The Beginning Of The End – Zerohedge
Fed Balance Sheet Surges By Another $100BN Amid Bank Runs As Foreign Repos Soar By Record And Cash Floods Into Reverse Repo, Money Markets – Zerohedge

Volcker Slayed Inflation. Bernanke Saved the Banks. Can Powell Do Both? – bbg
Do Kwon Charged With Fraud by US Prosecutors in New York – bbg
Markets chop as traders digest banking woes, Fed & Yellen – Newsquawk US Market Wrap
Markets To Yellen: ‘F**k Off’ – Zerohedge
Stocks close higher Thursday following a volatile trading session: Live updates – cnbc
Wall Street Expects the Fed to Cut Rates. That Isn’t a Good Sign – bbg
After Sparking Rout, Yellen Changes Key Part Of Prepared Testimony, Says “Prepared For Additional Deposit Action” – Zerohedge
Yellen Says US Prepared to Take Additional Actions to Keep Bank Deposits Safe – Reuters
Yellen Says US Prepared for Additional Deposit Actions If Needed – bbg
Banks Are Still Drawing on the Fed for $164 Billion of Emergency Cash – bbg
Factbox-Warren Buffett’s Investments in Financial Firms – Reuters
Oil Falls as US Holds off Refilling Strategic Reserve – Reuters
Oil’s Three-Day Rally Halts as US Throws SPR Refill Into Doubt – bbg
Oil Reserve Refill Is ‘Difficult’ This Year, US Energy Chief Says – bbg
Analysis-Fed Pause Before European Peers to Lift Treasuries, European Stocks – Reuters
New Fed Forecasts Suggest Central Bank Is Bracing for Recession – bbg
Stocks making the biggest moves midday: Netflix, Block, Snap, KB Home and more – cnbc
Analysis-End of Central Bank Rate Hikes Now Firmly on the Horizon – Reuters
Credit Suisse’s Senior Bonds Are Now Beating Out UBS’s – bbg
STOXX 600: A MIXED BAG FOR Q4 EUROPEAN EARNINGS AMID CONTINUED PRESSURES – factset
TikTok CEO Grilled by U.S. Lawmakers Over ‘Dangerous’ Content – Reuters
Block shares plunge 16% after short seller Hindenburg says Jack Dorsey’s company facilitates fraud – cnbc
US New-Home Sales Unexpectedly Rise, Showing Some Stabilization – bbg

Marketmind: Central Banks Try to See Through Stress – Reuters

US PREMARKET
Futures Rebound After Yellen Torches Markets – Zerohedge
BoE Hikes Rates 25bps As Expected, Re-Opens Door For Further Hikes – Zerohedge
Bank of England Raises Interest Rates Again, Sees Inflation Falling – Reuters
Hedge Funds May Have Turned Dollar Bulls at Just the Wrong Time – bbg
Distressed Debt Soars By 29%, Or $66 Billion, In One Week Amid Surge In Bankruptcies – Zerohedge
Accenture to Cut 19,000 Jobs With Biggest Pullback in Consulting – bbg
Powell’s Own Guide to Recessions Shows Rate Cuts Are Coming – bbg
Citi’s Fraser Warns Mobile Money is ‘Game Changer’ For Bank Runs – bbg
Tesla Started a China Price War That May Destroy Some Carmakers – bbg
European markets set to open lower as investors weigh Fed’s comments and rate hike – cnbc

Asia markets mixed after Fed’s rate hike, Yellen says no plans to insure bank deposits – cnbc
Tencent Stems Revenue Drop as China Poised for Gaming Recovery – bbg
Tencent’s online ad revenue grows for the first time in more than a year – cnbc
Taiwan’s Biggest Financial Group Floats Idea of Bank Run Curbs – bbg

Marketmind: What Powell Giveth, Yellen Taketh – Reuters

 

 

Wednesday 03/22

Business Live – guardian
Differing Powell and Yellen Messages Were a Lot for the Stock Market to Digest – bbg
Bank Turmoil Ramps Up Pressure for $900 Billion of Property Debt – bbg
Explainer-How Safe Is My Money in a U.S. Bank and What Is Insured? – Reuters
Fed hikes US interest rates by 25bp, but acknowledges we are close to the peak – ing

Stocks making the biggest moves after hours: Steelcase, Coinbase, KB Home and more – cnbc
Stocks down in wake of Fed, banking crisis still in focus – Newsquawk US Market Wrap – Zerohedge
Yellen Pulls Rug Out From Powell’s Dovish Promises: Gold Gains As Banks Bust – Zerohedge
Stocks slide following Fed’s rate hike, Dow sheds more than 500 points: Live updates – cnbc
Rescuing First Republic May Leave Bank Stockholders Stranded – bbg
Lindsay Lohan, Soulja Boy Accused by SEC of Illegally Touting Crypto Token – bbg
Coinbase Tumbles After-Hours On Wells Notice Disclosure – Zerohedge
Moody’s warns that long period of tight finances risks stresses spreading beyond banking – forexlive
Five Key Takeaways From Fed’s March Decision to Raise Rates a Quarter Point – bbg
Fed’s Powell: Process of Disinflation Is Still Happening – Reuters
The Fed forecasts just one more rate hike this year – cnbc
Fed hikes rates by a quarter percentage point, indicates increases are near an end – cnbc
Yellen to Stress No Protections for Bank Owners and Bondholders – bbg
Don’t Expect Looser Conditions Even As Fed Reverses Much Of QT – Zerohedge
Bitcoin Approaches $29,000 as Traders Bet on ‘Monster’ Fed Rally – bbg
Carvana Surges After Announcing Restructuring Which Would Shrink Debt By $1.3 Billion, Slash Interest By $100 Million – Zerohedge
Stocks making the biggest moves midday: Nvidia, First Republic, Nike, GameStop and more – cnbc
Credit Fears Flash in Underbelly of Stocks as Fed Decision Nears – bbg
Andurand Sees Oil Prices Hitting $140 This Year As Goldman, Sen Also See Sharp Rebound – Zerohedge

Stocks making the biggest moves premarket: GameStop, Luminar Technologies, Virgin Orbit & more – cnbc
Column-QE Sceptics Fear Fed Is in a Hole :Mike Dolan – Reuters
Futures Flat Ahead Of “Most Important Fed Decision Of 2023” – Zerohedge
UK Inflation Accelerates Unexpectedly Sticking in Double Digits – bbg
UBS Offers to Buy Back Some of Its Own Bail-In Notes – bbg
What to Know Ahead of the Fed’s Interest-Rate Decision – bbg
Big Investor in Credit Suisse Bonds Says ‘Bail-In’ System Worked – Reuters
Europe markets set to open lower; UK inflation surpasses expectations; Fed rate decision due – cnbc

Japan stocks climb almost 2%, leading gains in Asia ahead of Fed’s key rate decision – cnbc
It’s Bad Timing as Japan Hosts World’s First Bank IPO This Year – bbg

Asian Stocks to Rise in Risk-On Trade Ahead of Fed: Markets Wrap – bbg


Tuesday 03/21

Business Live – guardian
Explainer-How Does Bank Deposit Insurance Work, and Who Does It Cover? – Reuters

Auto-Loan Denials Hit Six-Year High As Distress Cycle Shifts Into Gear – Zerohedge
Nike Jumps on Robust Sales, Progress on Slashing Inventory – bbg
Nike Third-Quarter Results Beat on Jordan Retro Demand – Reuters
Nike stock rises after third quarter beats Wall Street expectations – cnbc
Stocks rally and havens tumble on bank optimism ahead of Fed – Newsquawk US Market Wrap
Banks & Black Gold Bounce As Bonds & Bullion Breakdown Ahead Of Fed – Zerohedge
Shares Jump but Investor Fears About Bank ‘Whack-A-Mole’ Linger – Reuters
Stocks close higher Tuesday, S&P 500 adds more than 1% as regional banks pop – cnbc
Circle USDC Stablecoin Redemptions Rise to About $6 Billion – bbg
SVB And Signature Bank Were Just The Tip Of The Iceberg – Zerohedge
Hedge Funds Eye Opportunities in Cut-Price Credit Suisse AT1s – Reuters
“A Big Failure For Us” – Sweden’s Biggest Pension Fund Loses Billions On Busted US Banks – Zerohedge
Congress Is Slow-Walking a Fix for US Banks Despite Failures – bbg
“Like A Scooby-Doo Ghost Town”: Banks Yank Junk Loan Deals As Demand Craters – Zerohedge
Analysis-Market Turmoil Is Doing Central Bankers’ Jobs for Them – Reuters
“Like Several Rate Hikes In One Day”: Yields On AT1 Debt Double Overnight After Shock Credit Suisse Wipeout – Zerohedge
Stocks making the biggest moves midday: Tesla, First Republic, KeyCorp, UBS and more – cnbc
European Bank Bulls Are Resisting Capitulation – Zerohedge
ECB’s Lagarde Says Digital Euro Has Key Role in Payment Autonomy – bbg
Tesla to Deliver Strong Q1 Retail Sales in China – Brokerage Data – Reuters
Volkswagen Warns of Significant Drop in Earnings From Car Loans and Leases – bbg
Yellen Says US Will Intervene if Needed to Protect Smaller Banks – bbg
Existing Home Sales Soar Most Since COVID Lockdowns As Mortgage-Rates Tumbled – Zerohedge

Marketmind: and Breathe – Edgy Market Calm Returns – Reuters

US Previously Owned Home Prices Fall for First Time Since 2012 – bbg
Futures Surge Above 4,000 As Bank Crisis Fades Amid Growing Deposit Insurance Speculation – Zerohedge
The Case for European Banking Stocks Just Got a Complete Reset – bbg
European Banks Have Cash but Shouldn’t Get Complacent, Regulators Say – Reuters
US Studies How To Guarantee All $18 Trillion In US Bank Deposits – Zerohedge
German Investor Morale Tumbles on Bank Concerns – ZEW – Reuters
Peter Schiff: Americans Will Pay For These Bank Bailouts – Zerohedge
German Exporters’ Dip in China Trade Dampens Post-Lockdown Hopes – Reuters
PIMCO Lost $340 Million With Credit Suisse AT1 Bonds Write-Off – Source – Reuters
The Case for European Banking Stocks Just Got a Complete Reset – bbg
Before Collapse, Credit Suisse Quietly Conquered an Obscure Debt Market – bbg
Distressed Markets are Hurting Most from Rich-World Bank Turmoil – bbg
European stocks set for positive open as market nerves settle after banking turmoil – cnbc

Marketmind: Signs of Confidence Re-Emerge After Bank Storm – Reuters
Marketmind: Signs of Confidence Re-Emerge After Bank Storm – Reuters

Asia-Pacific markets rise after Wall Street saw gains on optimism led by regional banks – cnbc
Asia Shares Bounce Gingerly as Bank Fears Linger – Reuters
China’s Bank Shares Trounce Global Peers Amid Sector Turmoil – bbg

Asian Stocks Poised to Rise as Banking Fears Ease: Markets Wrap – cnbc

 

Monday 03/20

Business Live – guardian
Saxo Market Call – saxo

US Officials Study Ways to Expand FDIC Coverage to All Deposits -Bloomberg News – Reuters
Stocks and yields rise on more distressed bank support – Newsquawk US Market Wrap
Bitcoin, Bullion, & Bond Yields Higher As Credit Market Rejects Bank Bailout ‘Bullishness’ – Zerohedge
Stocks close higher on Monday as banking crisis fears ease – cnbc
Pimco, Invesco Face Losses in Credit Suisse AT1 Debt Writedown – bbg
Goldman Sachs Sees Risk of ‘Permanent Destruction’ in Demand for AT1 Bonds – Reuters
The 11 Days of Turmoil That Brought Down Four Banks And Left a Fifth Teetering – bbg
Fed Liquidity Boost Is Bad for the Dollar, Deutsche Bank’s Ruskin Says – bbg
Factbox-Goldman Sachs Lowers Oil Price Forecasts for 2023, 2024 – Reuters
Stocks making the biggest moves midday: First Republic, UBS, Virgin Orbit, Dell and more – cnbc
BlackRock Investment Institute Downgrades Credit, Favors Short-Term Bonds for Income – Reuters
Fed’s $8.6 Trillion Balance Sheet a Focus as Banks Seek Cash – bbg
Market Turmoil May Do ECB’s Work in Dampening Demand – Lagarde – Reuters
UBS shares reverse losses, Credit Suisse craters 55% after takeover deal – cnbc
Credit Suisse’s Collapse Reveals Some Ugly Truths About Switzerland for Investors – bbg
Credit Suisse AT1 Bondholders Consider Possible Legal Action -Law Firm – Reuters
Explainer-Why Markets Are in Uproar Over a Risky Bank Bond Known as AT1 – Reuters
Amazon is laying off an additional 9,000 employees – bbg
Goldman Says Banking Turmoil Will Weigh More on UK Than Eurozone – bbg
Switzerland Puts up 260 Billion Francs for Credit Suisse Rescue – Reuters
EU Contagion Risk Spreads As CDS Market Puts Focus On Deutsche Bank – Zerohedge

 

US PREMARKET
Stocks making the biggest moves premarket: First Republic, UBS, Enphase Energy – cnbc
Futures Reverse Overnight Plunge As European Banks Stabilize From Historic Rout – Zerohedge
Pinduoduo Owner’s Revenue Falls Short on Weak China Consumer Spending – Reuters
Analysis-Credit Suisse Rescue Presents ‘Buyer Beware’ Moment for Bank Bondholders – Reuters
German Producer Prices Rise More Than Expected in February – Reuters
Credit Suisse’s AT1 Bond Wipeout Seen as an Exception in Europe – bbg
European Banks Set to Fall After UBS Agrees to Buy Credit Suisse – bbg
Morgan Stanley’s Wilson Says Bank Stress Signals Bear Market End – bbg
A $2.5 Billion Credit Suisse Junior Bond Is Unscathed in Wipeout – bbg
Credit Suisse Sale Is Wake-Up Call For Bank Bulls – Zerohedge
Wipeout of Risky Credit Suisse Bonds Upends $275 Billion Market – bbg
Goldman Sachs Lowers Euro Zone Growth Forecast; Sees No Growth for UK – Reuters
Bank Crisis Survivors Remember How Fast the Dominoes Can Fall – bbg
Global Central Banks’ Daily Swap Lines Signal No Dash for Dollar – bbg
Investors Say Banking Crisis Far From Over Even After UBS’s Credit Suisse Deal – bbg
Fed Panics, Announces “Coordinated” Daily US Dollar Swap Lines To Ease Banking Crisis – Zerohedge
US Credit Crunch Raises Risk of Fed Slamming Brakes Too Hard – bbg
UBS To Buy CS For $3 Billion As AT1 Bonds Get Wiped Out In Record Bail-In; Swiss Govt Grants CHF9BN Guarantee; SNB Offers $100 Billion Liquidity Backstop – Zerohedge
S&P Cuts First Republic Deeper Into Junk, Says $30 Billion Infusion May Not Solve Problems – Reuters
European markets set for mixed open after UBS buys troubled rival Credit Suisse – cnbc

Marketmind: Fed Halt Being Priced as Bank Blaze Smoulders – Reuters
Marketmind: Investors Adopt the Brace Position as Banks Topple – Reuters

Hong Kong shares slide 3%; Asia markets mostly fall after UBS buys Credit Suisse – cnbc
Riskiest Bonds for Some Asian Banks Fall by Record on Credit Suisse Deal – bbg
Asia Better Placed Than Developed Economies, Morgan Stanley Says – bbg
Morgan Stanley Bullish on Asia Growth Stocks as Conditions Ease – bbg
HSBC Shares Tumble in Hong Kong on Risky Bond Exposure Concerns – bbg
BOJ Appoints ‘Mr. YCC’ to Oversee Monetary Policy – Reuters

US Futures Rise, Dollar Falls as Sentiment Turns: Markets Wrap – bbg
Week Ahead: BOE, FED and SNB Meetings; ECB Speakers; Xi to Visit Russia; March PMIs; Fallout from UBS Takeover on Credit Suisse – christophe_barraud

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