European Central Bank Vice President Luis de Guindos said the banking sector is “going through a period of very high uncertainty” that dictates a meeting-by meeting approach on interest rate policy with no pre-commitment to a specific action.
Christine Lagarde is cementing her credentials as the biggest hawk among major central bankers despite the mounting banking stress, handing financial markets a reason to buy the euro and sell German bonds.
Banking turmoil and recession risks are spelling trouble for the global IPO market, keeping it mired in a slump even after investors started the year thinking that the worst of the stocks rout might be over.
Vladimir Putin said Russia is preparing to station tactical nuclear weapons in Belarus, escalating a confrontation with the US and its allies. The Russian president said storing the weapons there won’t breach its non-proliferation obligations. The US will monitor the implications of Putin’s move, the White House’s National Security Council said.
UBS Group AG’s emergency buyout of Credit Suisse Group AG threatens to drastically shrink the financing options for small and mid-sized companies, after the demise of a 166-year-old champion of Swiss entrepreneurship.
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