Sen. Tim Scott, RS.C., right, greets off-camera Michael Barr, Vice Chairman for Oversight of the Federal Reserve Board of Governors, in the Dirksen Building on Tuesday, March 28, 2023. tom williams | Cq-roll Call, Inc. | Getty Images This report comes from today’s CNBC Daily Open, our new international markets newscast. CNBC Daily Open updates … Read more
27 minutes ago European stocks open higher European stocks were up on Monday morning, with the Stoxx 600 index up 0.5% at 8.20am London time. Oil and gas stocks climbed 1.44%, mining stocks 1.36% and banks continued to regain positive momentum, up 1.2%. See the table… Stoxx 600 index. An hour ago Bailey: British banks … Read more
A branch of Deutsche Bank AG in the financial district of Frankfurt, Germany, Friday, May 6, 2022. Alex Kraus | Bloomberg | Getty Images This report comes from today’s CNBC Daily Open, our new international markets newscast. CNBC Daily Open updates investors on everything they need to know, wherever they are. Like what you see? … Read more
German Chancellor Olaf Scholz said Deutsche Bank was profitable after shares fell more than 10% during European trading. Ludovic Marine | AFP | Getty Images BRUSSELS — European leaders made a point of stressing on Friday that the region’s banking sector was stable and solid after German Banksudden slide as markets opened for trade. German … Read more
Citi economists said: “We have long debated our view that China can be a major growth hedge this year – if anything, the recent global banking strains may have bolstered this thesis. “ The People’s Bank of China’s decision to cut its reserve requirement ratio showed “assurance of political support amid global volatilities,” Citi economists … Read more
Federal Reserve Board Chairman Jerome Powell holds a news conference following a meeting of the Federal Open Market Committee at the Federal Reserve on March 22, 2023 in Washington, DC. Alex Wang | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new international markets newscast. CNBC Daily Open … Read more
A credit crunch is a significant tightening of lending standards between banks. Loans are more difficult to obtain and become more expensive. The banking crisis triggered by the failures of Silicon Valley Bank and Signature Bank will likely lead small and medium-sized institutions to prioritize a healthy balance sheet. The prospect of a recession led … Read more
US Treasury yields fell on Monday as investors considered stability in the banking sector after Swiss bank UBS agreed to buy rival Credit Suisse. As of 5:26 a.m. ET, the 10-year Treasury yield was down more than six basis points at 3.3319%. The 2-year Treasury yield was trading at around 3.7155% after falling around 13 … Read more
45 minutes ago European banking stocks slide 42 minutes ago European stocks open lower European stocks were down at the start of trade as investors valued a news-rich weekend that culminated in UBS’s takeover of Credit Suisse. The Stoxx 600 index was down 1.4% at 8.30am London time, with losses across major exchanges and across … Read more
Asian regulators issued reassuring statements on Monday that their banking systems have remained robust and stable after Swiss banking giant UBS agreed to buy rival Credit Suisse. Swiss regulators played a key role in orchestrating the forced takeover, to stem a wider banking crisis that would threaten the global system. From Hong Kong to Australia … Read more
