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A shocking week in the markets
Well, what a week this has been!
I mentioned Silicon Valley Bank (SVB) in my commentary last Friday and later that day, the markets became spooked by the possibility that further banks may suffer the same fate. Another US bank, Signature Bank, also hit the headlines for its difficulties.
There has much rhetoric around how US banks are operated very differently than UK & European banks but weakening this argument has been the difficulties of Credit Suisse this week.
After a surge in the price of equities, the market didn’t need much persuading that it might be wise to bank some profits and short sellers came out of their hiding holes to create further disruption.
I’ll do my best to explain what’s been going on. One thing is for sure, I’m now firmly back in the ’seat’ after my recent holiday!
Continues….
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