News and Trends
Yellen warns bank deregulation may have 'gone too far' after SVB failure - Fox Business--3.30.23
Treasury Secretary Janet Yellen warned that weeks of turmoil within the banking industry could be a sign that efforts to roll back regulations put in place after the 2008 financial crisis have "gone too far."
Jobless claims edge up to 198,000, higher than expected - CNBC--3.30.23
Jobless claims for the week ended March 25 totaled 198,000, up 7,000 from the previous period and a bit higher than what was estimated.
Wall Street's sharks are circling- Business Insider--3.29.23
The pandemic era was a boom time for the market, and mistakes will come to light as boom times end. Some assets will not survive the transition. But other investors, the kind of Wall Street sharks who thrive on uncertainty, stand to make a killing.
De-Dollarization Just Got Real- Zero Hedge--3.29.23
The BRICS coalition have been toying with the idea of forming a political/monetary counterweight to the U.S. dominance since 2001. Recently, a number of other countries have either applied to join or expressed an interest in joining the BRICS alliance.
Regulators blame social media for SVB's rapid collapse: 'Complete game changer'- Yahoo! Finance--3.28.23
SVB's stunning collapse has brought a new element to the conversation about what led to the bank's ultimate failure, the role of social media. On March 9, depositors scrambled to pull out more than $40 billion from SVB as panic spread throughout Twitter.
Gundlach Predicts a US Recession Will Start in a Few Months- Yahoo! Finance--3.27.23
Jeffrey Gundlach told CNBC that he expects a U.S. recession to start in a few months, and the the Fed will need to respond "very dramatically." Gundlach anticipates the Fed will cut interest rates "a couple of times" this year.
Banking crisis threatens to ignite credit crunch for US households: What to know- Fox Business--3.27.23
The worst banking crisis since the Great Recession could severely tighten credit for U.S. households and businesses, taking a toll on economic growth. During a credit crunch, banks significantly raise their lending standards, making it difficult to acquire a loan.
Crisis Of Confidence Calls For A Flight To Quality- Zero Hedge--3.27.23
As recession risks slam into stock markets, investors are making a beeline for shares of companies that offer the safest shelter during stormy times. Any rallies in bank shares are proving short-lived.
Deutsche Bank shares slide after sudden spike in the cost of insuring against its default- CNBC--3.24.23
The bank's shares retreated for a third consecutive day following a spike in credit default swaps Thursday night, as concerns about the stability of European banks persisted. The German lender has now lost more than a fifth of their value so far this month.
Jerome Powell's favorite bond market gauge flashes recession warning sign- Fox Business--3.23.23
Fed Chairman Jerome Powell's favorite bond market gauge is signaling that a recession is in the cards for the U.S. economy this year. Yield curve inversions are viewed as a good recession predictor because they suggest that investors believe economic growth is slowing.
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