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Search resuls for: "Davide Barbuscia Shankar Ramakrishnan"


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☆ U.S. credit default swaps rise on worries about bank failure contagion
  + stars: | 2023-03-13 | by ( Davide Barbuscia Shankar Ramakrishnan | Davide Barbuscia | Shankar Ramakrishnan | ) www.reuters.com   time to read: +2 min
Rising CDS spreads signal investors are hedging bets on a deterioration in credit quality. In money markets, a closely watched indicator of credit risk in the U.S. banking system edged up on Monday. With investors worried about possible bank runs, the Federal Reserve on Sunday unveiled a new program to ensure banks can meet needs of all their depositors. "Hedge funds are probably the ones that are buyers in this case," said Dan Bruzzo, a strategist at Santander US Capital Markets. Other banks with California exposure were taking the brunt of the selloff in the debt capital markets, he added.
☆ Credit risk surges as investors fear bank failures threaten markets
  + stars: | 2023-03-13 | by ( Davide Barbuscia Shankar Ramakrishnan | Davide Barbuscia | Shankar Ramakrishnan | ) www.reuters.com   time to read: +3 min
NEW YORK, March 13 (Reuters) - Credit risk indicators flashed red on Monday, as investors worried about contagion risks across corporate debt markets after the collapse of Silicon Valley Bank (SVB) and New York's Signature Bank in the space of 72 hours. Investment grade credit spreads, which indicate the premium investors demand to hold corporate bonds over safer government debt securities, have also been widening. The BlackRock Investment Institute said that after recently trimming its 'overweight' recommendation for investment grade credit, it was reassessing its view due to tighter financial conditions. In money markets, a closely watched indicator of credit risk in the U.S. banking system edged up on Monday. Other banks with California exposure were taking the brunt of the sell-off in the debt capital markets, he added.
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