Global stocks and U.S. bond yields rose on Tuesday, as a U.S. regulator-backed deal by First Citizens BancShares to buy failed Silicon Valley Bank soothed wider worries about problems in the sector. | Reuters
The concerns, however, haven’t completely gone away as Federal Reserve Governor Philip Jefferson said on Monday that stress among small banks could hit small businesses hardest.“This round of uncertainty that we’re seeing, it will likely continue for some more time,” said Manishi Raychaudhuri, Asia-Pacific head of equity research at BNP Paribas. “We haven’t seen the end of it.” He expects continued volatility for global markets going forward for at least one or two quarters.
“On one day, the market expects maybe a 25 basis points or maybe a 50 basis points rate hike. Just in a matter of one or two days, that outlook is changed to 50 basis points rate cuts in the second half of the year,” he said. Benchmark 10-year yields rose to 3.5317 percent, up from its U.S. close of 3.528 percent on Monday. They are also up from a six-month low of 3.285 percent reached on Friday, but remain below a 15-year high of 4.338 percent from Oct. 21.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Citizens Bank to buy SVB’s deposits, loans from FDICFirst Citizens Bank & Trust Co will buy all of Silicon Valley Bank&039;s deposits and loans from the Federal Deposit Insurance Corporation (FDIC), the regulator said in a
Read more »
First Citizens agrees to acquire failed Silicon Valley BankA subsidiary of First Citizens BancShares will assume Silicon Valley Bank assets of $110 billion, deposits of $56 billion, and loans of $72 billion.
Read more »
First Citizens to acquire collapsed Silicon Valley BankFirst Citizens Bank will acquire significant holdings of fallen lender Silicon Valley Bank, a US banking agency announced late Sunday, as regulators seek to contain an industry crisis.
Read more »
First Gen joins global shift to net zero emissionsMSSpotlight Environment & Sustainability: First Gen joins global shift to net zero emissions The call to mitigate climate change has been greatly amplified in recent years and the Philippines is joining the global energy transition to net zero emiss--
Read more »
Another fuel price rollback set on TuesdayFuel budgets of motorists this week will continue to be on downtrend, as prices at the pumps will be on rollback by P1.30 per liter for diesel products; and P0.85 per liter for gasoline products, as announced by the oil companies.
Read more »
Generally fair weather to continue over PH on Tuesday – Pagasahttps://youtu.be/3OFeegYROzA MANILA, Philippines — Generally fair weather will continue on Tuesday, the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (Pagasa) said
Read more »