European stocks fell and U.S. equity futures retreated as the emergency weekend sale of Credit Suisse Group AG to UBS Group AG failed to soothe market jitters over the health of the banking system. Investors turned to the safest assets, spurring gains in Treasuries, while gold rose.
“Markets are anxious about which bank is next to fall under trouble, as the whole system is based on confidence and events can escalate quickly, as we have seen with recent cases,” said Janet Mui, head of market analysis at RBC Brewin Dolphin. “There will be many questions and doubts on how UBS will integrate Credit Suisse given the size of the combined business.”
“The AT1 wipe out of CS is a wake-up call for investors of that segment and will prompt a significant re-evaluation of those bonds,” RBC Brewin's Mui said. “That could lead to higher funding costs for European banks going forward.”
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
출처: globeandmail - 🏆 5. / 92 더 많은 것을 읽으십시오 »