Tag: money
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ECB implements rate hike of half a point amid concerns about banks
Last Updated: March 16, 2023 at 9:42 a.m. ET First published: March 16, 2023 at 9:20 a.m. ET The European Central Bank on Thursday went ahead with its plan to raise interest rates by 50 basis points or half a percentage point despite banking sector turmoil, warning that “inflation is expected to remain too high […]
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What happened to Silvergate Capital? And why does it matter?
Silvergate capital AND served as one of the most important banks for the crypto industry before it collapsed earlier this week. The news came just a week after the company delayed its annual report to the U.S. Securities and Exchange Commission, causing Silvergate Capital’s shares to collapse. Here’s a rundown of the timeline of what […]
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Customers line up in front of First Republic Bank to withdraw their money
First Republic Bank customers lined up to withdraw their money on Saturday This comes one day after the fall of Silicon Valley Bank on Friday Both banks are connected to the California wine and technology industries Dozens of customers lined up outside a First Republic Bank in Northern California on Saturday, eager to withdraw their […]
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Bitcoin Tanks as Silicon Valley Bank Collapse Fuels Contagion Fears
Published: March 10, 2023 at 1:34 PM ET Bitcoin saw its losses widen on Friday, dropping below $20,000 for the first time since January as investors worry about the spread of contagion from Silicon Valley Bank, which was shut down by regulators and acquired by the Federal Deposit Insurance Corp., days after the crypto-friendly Silvergate […]
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Bond market recession gauge dips further into triple digits below zero after hitting four-decade milestone
One of the bond market’s most reliable indicators of impending recessions in the US dipped further into triple-digit negative territory on Wednesday, as Federal Reserve Chairman Jerome Powell reiterated the need for higher interest rates and a possible acceleration in the pace of bond yields. the interest rate hikes. The much-tracked spread between 2- and […]
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The stock market faces a crucial test this week: 3 questions to determine the fate of the rally
There will be no rest this week for investors awaiting a major report on the state of the US job market, along with the biennial congressional testimony from Federal Reserve Chairman Jerome Powell. To complicate matters, investors will also be watching to see how stocks react to more attractive risk-free yields in the bond market […]
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US regulators warn banks of heightened liquidity risks in crypto-related deposits
WASHINGTON — A trio of regulators, including the Federal Reserve, warned banks to be aware of liquidity risks associated with cryptocurrencies, the latest move by US officials to limit the economy’s vulnerability to the tumultuous market. The Fed, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. said in a joint statement […]
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Stocks post worst day of 2023 as rising interest rates contribute to ‘perfect storm’
Rising government bond yields finally appeared to be catching up with a previously resilient stock market on Tuesday, leading the Dow Jones Industrial Average and other major indices to pull off their worst day yet of 2023. “Returns are shooting all over the curve…This time around, it looks like market rates are catching up with […]