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Karen Jorritsma - 1 Brent - 1 Scott Murdoch - 1 Jamie Freed - 1
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☆ Asian shares mostly weaker as markets mull Fed rate rise
  + stars: | 2023-07-26 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com   time to read: +3 min
SYDNEY, July 26 (Reuters) - Asian markets were trading mostly weaker on Wednesday ahead of the U.S. Federal Reserve's expected interest rate rise to be delivered later in the day, as investors also weighed the likelihood of a Chinese economic stimulus package. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was flat, after U.S. stocks ended the previous session with mild gains. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.8848% compared with a U.S. close of 4.893%. Australia was the only major market across the Asia Pacific region to see shares rise, with the S&P/ASX 200 index (.AXJO) up 0.81%. On Wall Street, the three main indices closed higher, led by gains in shares of technology, materials and communication services companies.
Persons: Karen Jorritsma, Brent, Scott Murdoch, Jamie Freed Organizations: SYDNEY, U.S, U.S . Federal, Nikkei, CSI, Dow Jones, Nasdaq, Global, ANZ, RBC Capital Markets, Thomson Locations: U.S ., Asia, Pacific, Japan, Australia, Hong Kong, China, Sydney
☆ ECB watchdog sees no Europe contagion after US, Swiss bank rescues
  + stars: | 2023-03-17 | by ( Balazs Koranyi Pete Schroeder Tom Westbrook | Balazs Koranyi | Pete Schroeder | ) www.reuters.com   time to read: +6 min
The rescue package came shortly after embattled Credit Suisse (CSGN.S) tapped an emergency central bank loan of up to $54 billion to shore up its liquidity. The ECB supervisors saw no contagion to euro zone banks from the market turmoil, a source familiar with the content of the meeting told Reuters, adding that supervisors were told deposits remained stable across euro zone banks and exposure to Credit Suisse was immaterial. "I don't think we are in the crux of a global financial crisis. The ECB pressed forward with its 50 basis point rate hike, arguing that euro zone banks were in good shape and that if anything, higher rates should bolster their margins. Japan's finance ministry, financial regulator and central bank said they would meet on Friday to discuss developments.
☆ ECB meets over banking stress as US rescue eases immediate fears
  + stars: | 2023-03-17 | by ( Balazs Koranyi Pete Schroeder Tom Westbrook | Balazs Koranyi | Pete Schroeder | ) www.reuters.com   time to read: +6 min
March 17 (Reuters) - European Central Bank supervisors met to tackle growing cracks in the banking system on Friday after a $30 billion lifeline for U.S. lender First Republic Bank (FRC.N) eased fears of its imminent collapse. The rescue package came less than a day after Credit Suisse (CSGN.S) clinched an emergency central bank loan of up to $54 billion to shore up its liquidity. The two deals helped restore some calm to global markets, after a torrid week for banking stocks. "French and European banks are very solid," ECB policymaker and French central bank governor Francois Villeroy de Galhau, told BFM business radio. Japan's finance ministry, financial regulator and central bank said they would meet on Friday to discuss developments.
☆ Bank rescues ease crisis fears but investors worry it's not enough
  + stars: | 2023-03-17 | by ( Pete Schroeder Tom Westbrook Scott Murdoch | Pete Schroeder | Tom Westbrook | ) www.reuters.com   time to read: +5 min
The package came less than a day after Swiss bank Credit Suisse (CSGN.S) clinched an emergency central bank loan of up to $54 billion to shore up its liquidity. Analysts say authorities appear eager to quickly deal with systemic risks, but worry the potential for a banking crisis is far from over. "Yellen was clear overnight that all bank deposits were protected, but the bank might not be there," he said. Within days, the market turmoil had ensnared Credit Suisse, forcing it to borrow from Switzerland's central bank. Credit Suisse shares closed 19% higher on Thursday, recovering some of their 25% fall on Wednesday.
☆ Bank lifelines ease global financial crisis fears
  + stars: | 2023-03-17 | by ( Pete Schroeder Scott Murdoch | Pete Schroeder | Scott Murdoch | ) www.reuters.com   time to read: +5 min
March 17 (Reuters) - Multi-billion dollar lifelines for troubled U.S. and European banks shored up investor confidence on Friday and bolstered sentiment in battered stocks, although concerns now centre on whether a global financial crisis has been fully averted. The package came less than a day after Swiss bank Credit Suisse (CSGN.S) clinched an emergency central bank loan of up to $54 billion to shore up its liquidity, which went some way to calming panic about a global banking crisis. "I don't think we are in the crux of a global financial crisis, balance sheets are much better than they were in 2008, banks are better regulated," said Karen Jorritsma, head of Australian equities, RBC Capital Market. Within days, the market turmoil had ensnared Credit Suisse, forcing it to borrow from Switzerland's central bank. Policymakers have tried to emphasise that the current turmoil is different to the global financial crisis 15 years ago as banks are better capitalised and funds more easily available.
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