Business Maverick: S&P futures jump on SVB backstop, rate bets shift: markets wrap

Treasury Secretary Janet Yellen said that her office would protect “all depositors” at the bank, whose demise Friday marked the biggest such event since 2008. The government actions will also include a new lending program that Federal Reserve officials said would be big enough to protect uninsured deposits in the wider US banking system.

A gauge of dollar strength declined by 0.8%, with the currencies of Australia, New Zealand and Norway all advancing at least 1% versus the greenback. Japanese stocks led losses in Asia, with financials being the biggest drag on the benchmark Topix gauge. The gauge headed for its biggest two-day loss in a year as the yen continued to strengthen.

Monday’s moves in markets come after risk assets got pummeled last week, with the US stock benchmark suffering its worst week since September. Wall Street’s so-called “fear gauge” spiked, with the Cboe Volatility Index hitting the highest this year. Treasury two-year yields plummeted 28 basis points to 4.59%.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Why Silicon Valley Bank has caused panic around the world | BusinessSilicon Valley Bank triggered a panic in the banking sector on Friday, with shares in leading lenders around the world plunging, after it dumped assets to raise cash to cover withdrawals. | News24_Business
Fonte: News24 - 🏆 4. / 80 Consulte Mais informação »

UK races to minimise damage from Silicon Valley Bank collapse | BusinessBritish finance minister Jeremy Hunt said on Sunday he was working with Prime Minister Rishi Sunak and Bank of England Governor Andrew Bailey to 'avoid or minimise damage' resulting from the chaos engulfing the UK arm of Silicon Valley Bank.
Fonte: News24 - 🏆 4. / 80 Consulte Mais informação »