Global bank stocks sell off on fears over California lender :
ft.com/content/7bc37f48-3096-481d-874f-0d8f4db27509
Quick Glance: European banking stocks fall as worries about Silicon Valley banks spread
- In early trading on Friday, European banking stocks fell more than 4%.
- It came after the tech-focused lender announced a capital raising to help address bond sale losses.
- "The fact SVB's share placing has been accompanied by a fire sale of its bond portfolio raises concerns," Mould wrote in an email.
- Bank of America observed that overnight drops in US bank stocks indicated concerns that deposit outflows could force lenders to sell bonds at a loss.
- In contrast to specialist California-based banks, which have witnessed significant withdrawals, BofA strategists say European bond deposits are stable but stagnating, while cash deposits have increased.
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| Last Updated | Mar 10 23 |
| Total Articles | 5 |
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