Asia’s Market Reaction To Credit Suisse & UBS
Market Depth: Monday March 20, 2023
After a historic and last-minute deal of UBS to take over Credit Suisse, Weston Nakamura examines the first market reaction out of Asia. With rates continuing to fall alongside Credit Suisse AT1 bondholders getting wiped out, it is difficult to discern if macro or bottom up forces may be influencing global bank shares' directional movements. Weston therefore takes a look at specifically HSBC and Standard Chartered stocks listed in Hong Kong for a market read on the weekend's developments.
Weston also points to JPY futures as a contributing factor for gold to break above $2000.
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