fbpx

PU Prime App

Exclusive deals on mobile

Halten Sie die globalen Märkte in Ihren Händen

Unsere mobile Trading-App ist mit den meisten smarten Geräten kompatibel. Laden Sie die App jetzt herunter und beginnen Sie, mit PU Prime auf jedem Gerät, jederzeit und überall zu traden.

  • Market Insights  >  Weekly Outlook

20 March 2023,05:17

Weekly Outlook

Credit Suisse Fallout Hits Major Banks

20 March 2023, 05:17

Share on:
FacebookLinkedInTwitterShare
Share on:
FacebookLinkedInTwitterShare

The latest and largest fall in the recent banking turmoil is embattled Swiss lender Credit Suisse. Credit Suisse Group AG bondholders suffered a historic loss of about CHF 16bn ($17.3bn) worth of risky notes when a takeover by UBS Group AG triggered a “complete write-down” of the bank’s additional tier 1 (AT1) bonds in order to increase core capital. The move provoked a furious response from some of Credit Suisse’s AT1 bondholders who believed that money should have gone to them instead, leaving nothing for shareholders. The wipeout is the biggest loss yet for Europe’s $275bn AT1 market. The broader market for those risky European bank bonds, also known as contingent convertibles or CoCos, has also tumbled in the past two weeks, with the average AT1 indicated at a price of about 80% of face value on Friday, one of the steepest discounts on record.

Meta Announces Further Job Cuts

Meta, previously known as Facebook, has declared that they will be cutting another set of jobs, around 10,000 positions, in order to make the company a more effective and efficient organization. CEO Mark Zuckerberg has stated that these job cuts are part of the “year of efficiency.” The company will be focusing on middle management positions, and will leave 5,000 other roles unfilled. Meta is reducing its headcount due to the harsh economic climate in 2022, which resulted in decreased advertising revenues due to Apple’s data privacy changes. Meta had previously announced a cut of 11,000 jobs in November 2022.

Silicon Valley Bank Fails in Largest Bank Collapse Since 2008

SVB, the only publicly traded bank focused on Silicon Valley, announced on March 8 that it had sold $21 billion of securities from its portfolio at a loss of $1.8 billion and would sell $2.25 billion in new shares to shore up its finances. The bank’s parent company, SVB Financial Group, was unable to raise new equity or find a buyer, and on March 10, the bank was put into receivership by the Federal Deposit Insurance Corp. The FDIC created a new bank, the Deposit Insurance National Bank of Santa Clara, to hold the assets of SVB. Insured depositors will have access to their money starting March 13. SVB’s distress was caused by several factors, including the rapid interest-rate increases by the US Federal Reserve, which hit SVB especially hard, and the sharp downturn in high-flying tech companies that had been the source of its rapid growth. HSBC Holdings Plc bought the UK arm of SVB for a symbolic £1, but it’s not clear if a buyer will emerge for SVB’s US assets. US banks had recorded $620 billion in unrealized losses on their available-for-sale and held-to-maturity debts by the end of 2021. These paper losses “meaningfully reduced the reported equity capital of the banking industry,” according to filings with the FDIC. 

Starten Sie mit einem Vorteil in das Trading

Traden Sie Forex, Indizes, Metalle und mehr zu branchenweit niedrigen Spreads und mit blitzschneller Ausführung.

  • Beginnen Sie mit Einzahlungen ab nur $ 50 auf unsere Standardkonten mit dem Trading.
  • Erhalten Sie Zugang zum 24/7-Support.
  • Sie haben Zugang zu Hunderten von Instrumenten, kostenlosen Schulungsmaterialien und einigen der besten Promotionen, die es gibt.
Jetzt registrieren

Latest Posts

Schnelle und einfache Kontoeröffnung

Live-Konto erstellen
  • 1

    Registrieren Sie sich

    Registrieren Sie sich für ein PU Prime Live-Konto mit unserem unkomplizierten Verfahren

  • 2

    Zahlen Sie Geld ein

    Zahlen Sie bequem über verschiedene Kanäle und in verschiedenen Währungen auf Ihr Konto ein

  • 3

    Beginnen Sie mit dem Trading

    Erhalten Sie Zugang zu Hunderten von Instrumenten zu marktführenden Tradingbedingungen

Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.

Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.

By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.

Thank You for Your Acknowledgement!

Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.

Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.

Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.

Thank You for Your Acknowledgement!