German Chancellor Olaf Scholz said Deutsche Bank is profitable after shares fell more than 10% during European trading. Ludovic Marin | Afp | Getty Images BRUSSELS – European leaders wanted to emphasize on Friday that the banking sector in the region is stable and solid German Bank‘s sudden drop as markets opened up for trading. … Read more
Citi economists said: “We have long debated our view that China could be an important growth hedge this year – recent global banking tensions may have reinforced this proposition.” The People’s Bank of China’s decision to cut the required reserve ratio showed “reassurance of policy support amid global volatility,” Citi economists wrote. Aerial view of … Read more
US Treasury yields fell on Thursday as investors processed the Federal Reserve’s latest policy decision and considered the central bank’s policy guidance. At 5:25 am ET, the 10-year Treasury yield was trading at 3.4734% after falling more than two basis points. The yield on the 2-year Treasury fell by just under two basis points to … Read more
Federal Reserve Board Chairman Jerome Powell gives a press conference following a meeting of the Federal Open Market Committee at the Federal Reserve on March 22, 2023 in Washington, DC. Alex Wang | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily … Read more
A man waves the national flag of Sri Lanka after climbing a tower near the Presidential Secretariat in Colombo on July 11, 2022, after it was overrun by anti-government protesters. (Photo by ARUN SANKAR/AFP via Getty Images) Arun Sankar | Afp | Getty Images The International Monetary Fund has finally approved a $3 billion rescue … Read more
The International Monetary Fund has finally approved a $3 billion rescue package for Sri Lanka that will allow the country to restructure its debt and restore the economy in 2024. The South Asian country is grappling with its worst financial crisis in decades and the IMF’s decision will allow an immediate disbursement of a $333 … Read more
A construction site security guard outside a bank branch of Credit Suisse Group AG in Bern, Switzerland, on Monday, March 20, 2023. Stefan Wermuth | Bloomberg | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need … Read more
Recent bank failures have led to a crisis of confidence in the financial sector, but Americans still struggle with persistent inflation. The Federal Reserve is now expected to raise rates by a quarter of a percentage point at this week’s policy meeting. Here’s where consumers stand in tariff increases for a year. For its part, … Read more
28 minutes ago European bank shares fall 25 minutes ago European stock markets open lower European equities were lower at the start of trading as investors assessed a weekend of news that resulted in UBS acquiring Credit Suisse. The Stoxx 600 index was down 1.4% at 8:30am London time, with losses across the major stocks … Read more
Regulators in Asia issued reassuring statements on Monday that their banking systems remained robust and stable after Swiss banking giant UBS agreed to buy its rival Credit Suisse. Swiss regulators played a key role in orchestrating the forced takeover, to halt a wider banking crisis that would threaten the global system. From Hong Kong to … Read more