A Swiss Deal
A deal has been struck for UIBS to buy Credit Suisse. Is it enough to calm markets or will central banks have to respond? NAB’s Ray Attrill on the start of another volatile week.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Monday 20th March 2023
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A deal was struck over the weekend that sees UBS buying Credit Suisse for US$2billion, a fraction of it’s value at Friday’s close. NAB’s Ray Attrill talks about the consequences of this arrangement and the ongoing uncertainty in the US regional banking sector. Could this mean we see bond yields falling further and watered down expectations for central bank hikes, including the BoE and Fed this week? How can central banks tread the path between fuelling more banking uncertainty and pursuing their path for controlling inflation? The first central banker to face such difficult questions could be the RBA’s Christopher Kent, first thing today.
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