The world’s most indebted developer said it expects that a restructuring support agreement will be ready by the end of March, after it won preliminary support from a group of major creditors.
Shares of European banks traded in Asia tumbled Monday, as investors weighed a collapse in the value of additional tier 1 bonds issued by lenders following the terms of the Credit Suisse Group AG’s rescue.
The early calm in Asian markets on Monday quickly gave way to fresh jitters about the outlook for the global financial system, and investors and strategists are bracing for further tumult.
Signature Bank’s deposits and some of its loans have been taken over by a unit of New York Community Bancorp, a move that could help calm some of the turmoil that has engulfed US regional banks.
US and European equity futures wiped out gains and the dollar fluctuated as investors weighed efforts to safeguard the global banking system. The two-year Treasury yields retraced an earlier rebound.
Following the news that Credit Suisse Group AG would be sold to UBS Group AG for $3.3 billion, the beleaguered bank issued two internal memos to staff — one signed by Chairman Axel Lehmann and CEO Ulrich Körner, and a Q&A addressing subjects including job security, pay, bonuses and pensions.
Following the news that Credit Suisse Group AG would be sold to UBS Group AG for $3.3 billion, the beleaguered bank issued two internal memos to staff — a Q&A addressing subjects including job security, pay, bonuses and pensions — and a memo to staff signed by Chairman Axel Lehmann and CEO Ulrich Körner.
The yield on 10-year Treasuries will head “much lower” if it breaches the 3.37% level, according to DoubleLine Capital LP Chief Executive Officer Jeffrey Gundlach.
Former Taiwan President Ma Ying-jeou said he plans to visit China later this month — the first such visit by an ex-leader of the self-run island — an announcement that comes as Taipei hosts a flurry of foreign delegations in a sign of its rising profile on the world stage.
A key barometer of oil market health has slumped as strikes in France worsened sentiment amid turmoil in the banking sector.
