Monday, March 20, 2023

Tuesday's News Links

[Yahoo/Bloomberg] Stocks Extend Gains, Bonds Drop as Calm Returns: Markets Wrap

[Reuters] Bank stocks steady after Swiss rescue as focus turns to Fed

[Yahoo/Bloomberg] Banks’ Riskiest Bonds Rise as Regulators’ Assurances Resonate

[Yahoo/Bloomberg] Oil Prices Rise as Banking Turmoil Fades Before Fed Decision

[Reuters] Switzerland's secretive Credit Suisse rescue rocks global finance

[Reuters] Treasury's Yellen says committed to protecting bank deposits, more actions may be warranted

[Yahoo/Bloomberg] Yellen Says US Will Intervene if Needed to Protect Smaller Banks

[Reuters] US officials study ways to expand FDIC coverage to all deposits -Bloomberg News

[Yahoo Finance] Federal Reserve 'between a rock and a hard place' as interest rate decision looms

[Reuters] Putin, Xi discuss Chinese peace proposal for Ukraine as US denounces visit

[Reuters] Hardline US Republicans oppose bank deposit guarantees beyond $250,000 limit

[Reuters] PIMCO lost $340 mln with Credit Suisse AT1 bonds write-off - source

[Yahoo/Bloomberg] China Overnight Funding Rate Soars Ahead of PBOC Easing Measure

[Yahoo/Bloomberg] Australia Puts Policy Pause Back on Table as Economy Slows

[Yahoo/Bloomberg] Haidar Macro Hedge Fund Plunges 32% in Wild Bond Market Moves

[Yahoo/Bloomberg] Hong Kong Overnight Funding Costs Double in Sign of Cash Squeeze

[AP] Japan’s Kishida makes surprise visit to Ukraine as China’s Xi visits Russia

[Bloomberg] US Studies Ways to Guarantee All Bank Deposits If Crisis Expands

[Bloomberg] The 11 Days of Turmoil That Brought Down Four Banks And Left a Fifth Teetering

[NYT] As War in Ukraine Grinds on, China Helps Refill Russian Drone Supplies

[WSJ] Commercial Property Debt Creates More Bank Worries

[WSJ] Anxiety Strikes $8 Trillion Mortgage-Debt Market After SVB Collapse

[WSJ] SVB-Fueled Turmoil Junks Lessons of the Global Financial Crisis

[FT] ‘Firefighter and policeman’: Fed faces rate rise dilemma amid banks turmoil

[FT] Xi Jinping invites Vladimir Putin on state visit to China

Monday Evening Links

[Yahoo/Bloomberg] Stocks Stage Relief Rally as Banking Jitters Ease: Markets Wrap

[Reuters] First Republic shares tumble again as liquidity fears linger

[Reuters] Market stress indicators flash warnings as banking worries continue

[Yahoo/Bloomberg] FHLB Issues $304 Billion in a Week as Banks Boost Liquidity

[Reuters] Credit Suisse AT1 bondholders consider possible legal action -law firm

[Reuters] Goldman Sachs sees risk of 'permanent destruction' in demand for AT1 bonds

[Yahoo/Bloomberg] US Lawmaker Divisions Over FDIC Cap Threaten Action on Failing Banks

[Yahoo/Bloomberg] JPMorgan’s Kolanovic Sees Increasing Chances of ‘Minsky Moment’

[NYT] Fate of First Republic Hangs in Balance as Shares Plummet Again

[NYT] Fed Meets as Bank Chaos Collides With Inflation

[FT] Wall Street CEOs try to come up with new plan for First Republic

[FT] How the Swiss ‘trinity’ forced UBS to save Credit Suisse

[FT] ‘Credit Suisse is part of our history’: shocked nation digests bank’s collapse

Monday Afternoon Links

[Yahoo/Bloomberg] Stocks Stage Bank-Led Rebound as Treasuries Slide: Markets Wrap

[Yahoo/Bloomberg] First Republic Plunges to Record Low on Concern More Help Needed

[Reuters] First Republic shares tumble again as liquidity worries linger; peers rebound

[Yahoo/Bloomberg] Oil Extends Losses as Banking Turmoil Sends Investors Scattering

[Reuters] JPMorgan CEO leading talks for new First Republic rescue plan - WSJ

[AP] Fed’s tough challenge: Confront inflation and bank jitters

[Reuters] FDIC to break up SVB, seeks separate sale of private unit

[Yahoo/Bloomberg] Quants Are Reeling as Bank Crisis Triggers Biggest Hit Since Covid

[Yahoo/Bloomberg] ECB Task Isn’t Clouded by Financial-Risk Worry, Lagarde Says

[AP] Amazon cuts 9,000 more jobs, bringing 2023 total to 27,000

[Guardian] Xi Jinping says China ready to ‘stand guard over world order’ as he lands in Moscow

[WSJ] Jamie Dimon Leading Efforts to Craft New First Republic Bank Rescue Plan

[WSJ] Federal Reserve Faces Tough Decision on Rate Increase

[FT] Tett: Trust in market rules at stake as investors remain in limbo

[FT] Xi Jinping praises Vladimir Putin’s ‘strong leadership’ in Kremlin talks