Bloomberg Business

Kenya’s shilling dropped to a new record after 60 straight days of declines, its longest losing streak in data going back to 1988.

Gold rose above $2,000 an ounce for the first time in more than a year after banking crises in the US and Europe triggered a return to haven buying.

Several Chinese data vendors are showing or will soon start to show bond quotes from all six of the country’s fixed-income brokers, wider distribution than before a sudden suspension of data feeds last week rocked the nation’s $21 trillion debt market.

Credit Suisse Group AG, once one of the stalwarts of the global financial system, is no more.

News that roughly $17 billion of Credit Suisse Group AG’s AT1 bonds are set to be wiped out rattled global markets and sent similar debt tumbling in Asian trading Monday. But such risks were clearly stated by the bank when issuing its debt.

The European Central Bank’s decision to move ahead with a 50 basis-point increase in interest rates last week in a context of market instability shows the institution is confident in the region’s banks, Governing Council member Francois Villeroy de Galhau said.

(Bloomberg) — The European Central Bank must fight inflation until the job is done, while acknowledging the rising risk of pushing interest rates too high as the peak nears, Governing Council member Martins Kazaks said.

Bank of France Governor Francois Villeroy de Galhau said the country’s banking sector is “solid” and doesn’t suffer from under-regulation seen in the US or a lack of profitability like Credit Suisse.