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First Republic Bank Rescue & The Stock Market


The stock market sentiment is stabilizing, but indexes are headed for solid weekly losses following a turbulent week in markets and the financial industry.

After the Swiss National Bank provided a liquidity facility to Credit Suisse?, First Republic Bank receives a rescue package Markets were calmed by the announcement, but there is still worry. While stocks moved in Asia generally higher, indexes continue to lose weekly ground and Europe is no exception.

European and US futures are moving higher though, as the focus turns to next week’s Fed announces, traders are currently anticipating a 25-bp increase. The ECB stayed true to its guns, but it gave a 50 bp rise with a clear signal that the central bank will be closely monitoring financial market developments before making any further moves. The 10-year Treasury yield has fallen -5.7 bp to 3.522%, while the German 10-year has dropped -5.5 bp and is now at 2.23%. Early trade showed that the German 10-year had corrected to 2.23%. The USDIndex has dropped Below the 104 mark is considered to be low risk appetite is stabilising and stock markets are also moving up from this week’s lows. Next Support 103 And 102.34.

First Republic was reportedly given a $30 bln Lifeline A group of banks will help to increase liquidity in a deal brokered by…

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