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First Republic Bank Rescue & The Stock Market


The stock market sentiment is stabilizing, but indexes are headed for solid weekly losses following a turbulent week in markets and the financial industry.

After the Swiss National Bank provided a liquidity facility to Credit Suisse? First Republic Bank receives a rescue package Markets were calmed by the announcement, but there is still worry. While stocks moved in Asia generally higher, indexes continue to lose weekly ground and Europe is no exception.

European and US futures are moving higher though, as the focus turns to next week’s Fed announces, traders are currently anticipating a 25-bp increase. Yesterday’s ECB meeting was a success. The ECB gave a 50 bp rise with a clear signal it will be closely monitoring financial market developments before making any further moves. The 10-year Treasury yield has fallen -5.7 bp to 3.522%, while the German 10-year has fallen -5.5 bp and is now at 2.23%. Early trade showed that the German 10-year had corrected to 2.23%. The USDIndex has dropped Assume a lower risk appetite than the 104 level is stabilising and stock markets are also moving up from this week’s lows. Next Support 103 102.34.

First Republic was reportedly given a $30 bln Lifeline A group of banks has been asked to assist in the stabilization of liquidity through a deal that was brokered by…

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