ANALYSIS: 'The market is telling us something very bad is coming', as global banking crisis deepens
Again, in simple terms, this is telling us that those dealing in the money market across the globe have in recent days being feverishly buying government bonds.It makes sense too because these investments are backed by the government that issues them.A falling bond market tells you interest rates are rising to cool the heat in an economy.
A reformed regulatory regime, introduced as a direct result of that crisis, classifies the world's big investment banks as being "too big to fail", which means they're forced to hold vast amounts of cash or similarly safe reserves to survive a future financial crisis. The solution was to develop a fund, contributed to by the banking system itself, to pay out deposits.
"In seeking preliminary advice we are aware that some Australian firms have been impacted and we're working closely with our regulators as well as the tech sector to better understand the implications for the industry as the situation evolves," he said. However the past few days has pushed the share market as a whole just inches from a technical "correction", which is a peak-to-trough fall of 10 per cent or more.
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