Come deposit with us… Silicon Valley Bank is reportedly now marketing itself as the, ‘single safest place to keep or transfer your deposits.’ The new CEO is reported to have said, ‘There is no safer place in the U.S. banking system to put your deposits.’ WOW! That didn’t take longRead More →
Will the recent high profile bank failures spread to other smaller banks? The current meltdown in the banking sector has released fearful memories from the 2008 financial crisis to re-surface. In that major crisis, some of the biggest banks in U.S. collapsed, damaged by the discovery of sub-prime lending practicesRead More →
Failure and Frailties exposed in the banking sector After the failure of U.S. Silicon Valley Bank and Signature Bank and with the frailties exposed at Credit Suisse, other U.S. regional banks came under extended pressure yesterday. But these banks of critical concern were swiftly dealt a financial lifeline bringing themRead More →
Go to Gold Gold hit its highest price since early February 2023 yesterday as investors move to gold during financial shocks such the SVB closure. Gold is always seen as a safe haven asset in such times of crisis. Safe Investors sought safety with their money at Silicon Valley Bank andRead 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 →