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Investors switch to bank fundamentals | – #Investors #switch #bank #fundamentals

From Anshuman Daga Europe and an outlook on the day ahead in global markets

Turbulence in global markets is gradually giving way to stability.

Regional USA “Is the worst over?” a day after lender First Citizens BancShares moved to seize the assets of failed Silicon Valley Bank.

Bank as regulators say the system is sound but require a review of the rules USA comes a strong show of confidence from the authorities.

Monday USA markets, especially down bank A rally in U.S. stocks lifted Asian shares, while the safe-haven dollar fell. Australian shares boosted by M&A activity.

Stocks prices Monday bank rose with concerns about the easing of the crisis

A relief rally in Asian stocks could extend to Europe, where banking stocks rose on Monday, paring last week’s sharp declines.

The state-sponsored bailout of Credit Suisse ( CSGN.S ) by rival UBS ( UBSG.S ) and turmoil among regional U.S. banks have added to concerns for the sector.

But analysts at asset manager Amundi say recession fears are the main culprit and Europe banks are not loaded with weak assets that could cause problems for capital or liquidity levels.

Analysts said the decline coincided with monetary tightening credit although they expect the growth to continue, any credit they don’t wait for the crisis.

Europe most banks have large capital and liquidity to support the real economy: We want them to remain open for business and credit We expect that they will continue to lend to customers with the ability.”

European Central Bank Governing Council member Isabelle Schnabel said on Monday that the ECB could take a leaf from the Bank of England’s book as it looks for new ways to manage liquidity in the banking sector and manage short-term interest rates in the market.

Millions of people in Germany on Monday of rising inflation in Europe’s largest economy labour because it increases the fee requirements weather ports, bus and train stations shut down due to one of the biggest departures in decades.

Meanwhile, a US regulator has sued Binance, the world’s largest cryptocurrency, and its CEO and founder Changpeng Zhao over what the regulator claims is an “illegal” exchange and a “bogus” compliance program. Zhao called the complaint “unexpected and disappointing.”

Key developments that could affect markets on Tuesday:

Speakers: Federal Reserve Vice Chairman for Supervision Michael Barr testifies on “Bank Supervision.”

European speakers: ECB President Christine Lagarde speaking at the opening of the BIS Innovation Hub Eurosystem Center in Frankfurt; Andrew Bailey, Governor of BoE Banking at the Bank of England, attends Treasury Select Committee hearings on Silicon Valley Bank

Reporting by Anshuman Daga; Edited by Jacqueline Wong

Our standards: Thomson Reuters Trust Principles.

2023-03-28 09:25:32
Source – reuters

Translation“24 HOURS”

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