Bailouts Continue

Bailouts Continue

https://www.linkedin.com/posts/rod-dubitsky-0aa94118_first-republic-rescue-may-rely-on-us-backing-activity-7044077812265185280-GQP1?utm_source=share&utm_medium=member_android

Swiss National Bank to give Credit Suisse financial support ‘if necessary’ – The Washington Post

Swiss National Bank to give Credit Suisse financial support ‘if necessary’ – The Washington Post

Breaking: Swiss National Bank offers support to Credit Suisse Potentially good news though troubling that such an announcement was necessary. I would note that Credit Suisse’s assets are about equal to the GDP of Switzerland. Not apples to apples but rather an indication of potential limits to SNB support for CS. https://www.washingtonpost.com/business/2023/03/15/svb-banking-credit-suisse-stocks/

America’s credit rating could get downgraded even if a default is avoided, Fitch Ratings warns – CNN

America’s credit rating could get downgraded even if a default is avoided, Fitch Ratings warns – CNN

A stark warning from Fitch. Though there is no risk of something replacing the dollar as the world’s reserve currency, that is a necessary but not sufficient condition to avoid fallout from the US debt ceiling debate. https://www.cnn.com/2023/03/06/economy/us-credit-rating-fitch/index.html