Castastrophy averted as the U.S. senate vote to pass debt deal. Was there any real doubt a deal would be made? The U.S. Congress has approved a deal to lift the country’s borrowing limit, just days before the world’s largest economy was due to default on its debt. Vote 63-36Read More →
IMF says risks to financial stability have increased and to remain vigilant International Monetary Fund chief Kristalina Georgieva said on Sunday that, ‘risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress’. Challenge The IMF managing director is reported toRead More →
Deutsche Bank’s U.S. listed shares fell 10% in pre-market trading. European stocks came under pro-longed pressure Friday morning as banking sector woes fail to disperse. The DAX and FTSE 100 indices each fall by more than 2% in early morning trade. Central Banks Investors have been assessing the global centralRead More →
Coinbase warning The U.S. Security & Exchange Commission – (SEC), issued the crypto exchange Coinbase with a ‘Wells’ notice, warning the exchange that it identified potential violations of U.S. securities law. A ‘Wells’ notice is one of the final steps taken before the SEC formally issues charges. It lays outRead More →
Accusations It is widely reported that the SEC (Securities & Exchanges Commission) – accuses Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen of breaching U.S. securities laws by selling XRP without first registering it with the regulator. Ripple contests the SEC’s allegations, maintaining the view that XRP should be consideredRead More →
In view of the recent ‘mini banking crisis’ – will the Feds fight with inflation mean U.S. interest rates will still go up this month? Two or three more increases of 0.25%? Markets still expect the Fed to keep up its inflation fight, despite recent bank failures that have unexpectedlyRead More →
Shifting Rate Expectations Traders and investors alike are rapidly shifting their expectations over the Federal Reserve’s next move amid the crisis of confidence sweeping U.S. banks. Market pricing appears to be suggesting a significant chance the central bank will not make a change to interest rates in March 2023. RateRead More →
The Collapse of the 16th Largest U.S. Bank Silicon Valley Bank – (SVB), the 16th largest bank in the U.S. (at the start of last week) – had been operational for 40 years and was considered a reliable source of funding for tech start-ups. SVB Financial Group’s holdings were hitRead More →
SVB Collapse Reverberates Across Markets U.S. authorities took emergency action over the weekend to shore up the banking system after Silicon Valley Bank (SVB) and Signature Bank collapsed. Businesses and people who have money deposited with SVB would now be able to access their money from Monday, the government said.Read More →
Bitcoin gain Bitcoin hit $50,000 on Sunday, reaching a more than 3-month high, as the cryptocurrency continues to rebound. Bitcoin hit an all time high of over $64,000 in April 2021 – then but sold off in June and July, dipping below $30,000. But since mid July, bitcoin has beenRead More →