Unforced Errors
By Avi Deutsch March 17, 2023 – The financial infrastructure that enables the modern economy is a work of wonder. A global machinery of banks, brokerage firms, investment banks, stock exchanges, fund managers, and insurance companies hums in the background of our lives. This machinery is governed by a bewildering array of domestic governments and […]
Unraveling Rescue Packages
March 17, 2023 Good morning, Yesterday’s equity market rally, largely driven by various rescue solutions for key European and U.S. banks lying in their respective ICU units, continued into the overnight session. That is right until Credit Suisse (CS) and Union Bank of Switzerland (UBS) denied rescue and any interest in combining at 4am ET. […]