No let up for world stocks as banking worries persist

said she was prepared to take further action to safeguard bank deposits, after saying a day earlier that blanket insurance was not on the agenda. Banks borrowed $110.2 billion at the Federal Reserve's discount window in the latest week, with the hefty drawdown of emergency credit suggesting some lenders were now unable to secure funds elsewhere.

"Small banks are important to the real economy," he added. "This takes us closer to a hard landing, to a U.S. recession." In government bond markets, the yield on the two-year U.S. Treasury , which tracks interest rate expectations, fell 8 basis points on Friday to 3.71%.Traders have also priced in U.S. rate cuts of about 90 bps basis points to about 3.9% by the end of the year .

We need price controls and a reset of the world financial system that erases colonial empires driven debt.

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