{"id":2396,"date":"2023-03-16T12:32:24","date_gmt":"2023-03-16T17:32:24","guid":{"rendered":"https:\/\/embarrdowns.com\/24-hours-of-financial-market-uncertainty-credit-suisse-ecb-tiktok-and-treasury-yields\/"},"modified":"2023-03-16T12:32:25","modified_gmt":"2023-03-16T17:32:25","slug":"24-hours-of-financial-market-uncertainty-credit-suisse-ecb-tiktok-and-treasury-yields","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/24-hours-of-financial-market-uncertainty-credit-suisse-ecb-tiktok-and-treasury-yields\/","title":{"rendered":"24 Hours of Financial Market Uncertainty: Credit Suisse, ECB, TikTok, and Treasury Yields"},"content":{"rendered":"

The financial markets have been in a state of flux over the past 24 hours, with Credit Suisse the latest headline maker. The Swiss bank announced it would borrow up to 50 billion Swiss Francs ($53.68 billion) from the Swiss National Bank on Wednesday.[0]<\/a><\/sup> U.S.-listed shares in the bank rallied 6% on the news, while regional banks saw their stocks dip.<\/p>\n

Meanwhile, the European Central Bank is set to announce its latest policy decision shortly before U.S. markets open, with a 50 basis point rate hike expected.[1]<\/a><\/sup> And the Biden administration has threatened to ban TikTok if China’s Bytedane doesn’t divest its stake in the video-sharing app, sending parent company Snap’s shares up 6% and Meta’s 1.5%.[2]<\/a><\/sup><\/p>\n

On the Treasury front, the 10-year yield fell 7 basis points to 3.42%, while the 2-year yield was down by around 10 basis points to 3.292%.[2]<\/a><\/sup> First Republic Bank (FRC) meanwhile fell 21.4% after S&P Global Ratings downgraded the regional lender’s credit rating to junk status.[3]<\/a><\/sup><\/p>\n

Overall, the markets have seen a mix of volatility and uncertainty over the past 24 hours, and investors will be closely monitoring the ECB decision and any further news on the TikTok situation.<\/p>\n

0. <\/span>“Credit Suisse to borrow up to $54 billion from Switzerland’s central bank” Axios, 16 Mar. 2023, https:\/\/www.axios.com\/2023\/03\/16\/credit-suisse-borrow-54-billion-switzerlands-central-bank<\/a><\/a><\/p>\n

1. <\/span>“European stocks close higher following ECB rate hike; Credit Suisse up 19% on central bank backstop” CNBC, 16 Mar. 2023, https:\/\/www.cnbc.com\/2023\/03\/16\/european-markets-live-updates-stocks-data-news-and-earnings.html<\/a><\/a><\/p>\n

2. <\/span>“Dow Jones Futures Fall: Credit Suisse Taps Swiss National Bank; First Republic Dives On Sales Report | Investor’s …” Investor’s Business Daily, 16 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-rise-as-credit-suisse-taps-54-billion-from-swiss-national-bank\/<\/a><\/a><\/p>\n

3. <\/span>“Stock Market Today: Stocks Struggle on Credit Suisse, First Republic Bank Concerns” Kiplinger’s Personal Finance, 15 Mar. 2023, https:\/\/www.kiplinger.com\/investing\/stocks\/stock-market-today-stocks-struggle-on-credit-suisse-first-republic-bank-concerns<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The financial markets have been in a state of flux over the past 24 hours, with Credit Suisse the latest headline maker. The Swiss bank announced it would borrow up to 50 billion Swiss Francs ($53.68 billion) from the Swiss National Bank on Wednesday.[0]<\/a><\/sup> U.S.-listed shares in the bank rallied 6% on the news, while regional banks saw their stocks dip.<\/p>\n

Meanwhile, the European Central Bank is set to announce its latest policy decision shortly before U.S. markets open, with a 50 basis point rate hike expected.[1]<\/a><\/sup> And the Biden administration has threatened to ban TikTok if China’s Bytedane doesn’t divest its stake in the video-sharing app, sending parent company Snap’s shares up 6% and Meta’s 1.5%.[2]<\/a><\/sup><\/p>\n

On the Treasury front, the 10-year yield fell 7 basis points to 3.42%, while the 2-year yield was down by around 10 basis points to 3.292%.[2]<\/a><\/sup> First Republic Bank (FRC) meanwhile fell 21.4% after S&P Global Ratings downgraded the regional lender’s credit rating to junk status.[3]<\/a><\/sup><\/p>\n

Overall, the markets have seen a mix of volatility and uncertainty over the past 24 hours, and investors will be closely monitoring the ECB decision and any further news on the TikTok situation.<\/p>\n

0. <\/span>“Credit Suisse to borrow up to $54 billion from Switzerland’s central bank” Axios, 16 Mar. 2023, https:\/\/www.axios.com\/2023\/03\/16\/credit-suisse-borrow-54-billion-switzerlands-central-bank<\/a><\/a><\/p>\n

1. <\/span>“European stocks close higher following ECB rate hike; Credit Suisse up 19% on central bank backstop” CNBC, 16 Mar. 2023, https:\/\/www.cnbc.com\/2023\/03\/16\/european-markets-live-updates-stocks-data-news-and-earnings.html<\/a><\/a><\/p>\n

2. <\/span>“Dow Jones Futures Fall: Credit Suisse Taps Swiss National Bank; First Republic Dives On Sales Report | Investor’s …” Investor’s Business Daily, 16 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-rise-as-credit-suisse-taps-54-billion-from-swiss-national-bank\/<\/a><\/a><\/p>\n

3. <\/span>“Stock Market Today: Stocks Struggle on Credit Suisse, First Republic Bank Concerns” Kiplinger’s Personal Finance, 15 Mar. 2023, https:\/\/www.kiplinger.com\/investing\/stocks\/stock-market-today-stocks-struggle-on-credit-suisse-first-republic-bank-concerns<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":2395,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/2396"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=2396"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/2396\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/2395"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=2396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=2396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=2396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}