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Morning Bid: Swiss lifeline, ECB dilemma - Reuters

Morning Bid: Swiss lifeline, ECB dilemma - Reuters

Morning Bid: Swiss lifeline, ECB dilemma - Reuters
Mar 16, 2023 52 secs

Policymakers and regulators across Europe and Asia rushed to reassure the public and markets that banks in their jurisdictions were safe and well-capitalised.

Like other central banks, the ECB has been raising interest rates rapidly to curb inflation and has since July tightened credit at its fastest pace on record.

Interest rates markets have been gyrating wildly all week as a result of the conundrum, trying to second guess whether the Federal Reserve and ECB lean more toward their financial stability rather than strict inflation mandates.

The real eye-watering swings were reserved for U.S. rates and bond yields as markets desperately try to second guess the Fed's reaction function to all the turmoil ahead of its policymaking meeting next week.

Implied volatility gauges for the U.S. Treasury market(.MOVE) surged again on Wednesday to their highest since the aftermath of the Lehman Brothers bust in 2008.

China's foreign ministry said on Thursday the United States had yet to provide evidence that TikTok threatened national security and that the U.S. should stop suppressing such companies.

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