US officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis.
Asian stocks climbed following gains on Wall Street as immediate concerns over the strength of the global financial system dissipated.
Some of the world’s biggest investors are looking beyond interest-rate hikes, bank failures and the threat of recession to one of the greatest fears of all money managers — missing out on the next big rally.
The Federal Reserve shouldn’t raise its benchmark rate this week, Pershing Square’s Bill Ackman said, arguing that the banking crisis has already had the effect of a “meaningful tightening of financial conditions.”
Oil steadied after a turbulent session as a calmer tone returned to financial markets rattled by a global banking crisis.
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