HONG KONG - Global stocks rose and the dollar softened on Tuesday, as a deal backed by the U.S. regulator for First Citizens BancShares to buy failed Silicon Valley Bank soothed wider worries about problems in the sector.
"This round of uncertainty that we're seeing, it will likely continue for some more time," said Manishi Raychaudhuri, Asia-Pacific head of equity research at BNP Paribas ."We haven't seen the end of it." He expects continued volatility for global markets going forward for at least one or two quarters.
"On one day, the market expects maybe a 25 basis points or maybe a 50 basis points rate hike. Just in a matter of one or two days, that outlook is changed to 50 basis points rate cuts in the second half of the year," he said.
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Yesterday First Citizen. Today First Republic.🚀 .Lets goooo
Yeah, that's what they said yesterday but look what happened....
The calm before the storm…
The rip before the dip 🐻
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