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  • Goldman Sachs says it doesn't expect a Fed interest rate hike in March after Silicon Valley Bank's implosion

    19 days ago - By Business Insider

    Goldman Sachs says it doesn't expect a Fed interest rate hike in March after Silicon Valley Bank's implosion. Alex Wong/Getty Images
    Goldman Sachs now doesn't expect the Fed to hike interest rates at its next meeting on March 21-22.
    Fed chairman Powell previously signaled higher-than-expected rate hikes to cool inflation.
    But the aftermath of the implosion of Silicon Valley Bank is causing uncertainty about the banking sector.
    The implosion of Silicon Valley Bank, or SVB, and the resulting panic in the banking sector is expected to thwart the Federal Reserve's hawkish efforts on interest...
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  • US bond yields post biggest drop since 2008 financial crisis as Silicon Valley Bank collapse rattles markets

    19 days ago - By Business Insider

    2-year Treasury yields have plummeted after the collapse of Silicon Valley Bank. Getty Images
    Yields on 2-year US Treasury notes had their largest fall since 2008 Monday.
    Investors are flocking to bonds as a safe haven as the failure of SVB rattles bank stocks.
    They're also betting that the Federal Reserve will ease up on its tightening campaign to stop contagion spreading.
    Short-dated US Treasury bond yields posted their largest drop in nearly 15 years Monday as the sudden collapse of Silicon Valley Bank continued to send shockwaves through financial markets. Yields on 2-year US Treasury...
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  • LIVE: Silicon Valley Bank's collapse fanned fears of a financial meltdown, but officials seem to have averted a crisis for now. Here's what's happening, what experts are saying, and what it all means

    19 days ago - By Business Insider

    Silicon Valley Bank's HQ in Santa Clara, California. Getty Images
    We're live-blogging the fallout from Silicon Valley Bank's collapse last week.
    US authorities have guaranteed the lender's deposits and promised its customers will be made whole.
    Bill Ackman, Michael Burry, and others have weighed in on the fiasco rocking financial markets.
    Good morning from London. We're live as Silicon Valley Bank's collapse continues to rattle investors and stoke fears of further bank runs and financial catastrophe. The US Treasury, Federal Reserve, and the Federal Deposit Insurance Corp. helped assuage...
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  • Two big Silicon Valley banks failed when the easy money ran out - and that could be just the start

    19 days ago - By Business Insider

    Phew. Hey there. Senior reporter Phil Rosen here. Before we jump into the newsletter, the Silicon Valley Bank saga is continuing to unfold, so let's quickly break down the latest. The big story this morning : HSBC has bought the UK arm of collapsed SVB in a last-minute deal for 1 British pound, or $1.21. The UK government and the Bank of England facilitated the private sale, British Chancellor Jeremy Hunt said on Twitter : "Deposits will be protected, with no taxpayer support". Also, if you haven't heard, Signature Bank yesterday became the third bank to fail in the past week, after...
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  • Silicon Valley Bank depositors are saved at the last minute

    19 days ago - By Business Insider

    What a weekend that was, reader. By now, you've probably heard a lot about the sudden, bank run-driven collapse of Silicon Valley Bank , one of the tech industry's most stalwart and trusted institutions. There's a lot to catch up on, so buckle up. The weekend was a period of intense stress in the tech industry, as the bank's customers wondered what they would do if Monday rolled around and they couldn't get access to the cash they needed to make payroll or pay their office rent. Well, late on Sunday afternoon, the federal government stepped in: While the bank itself will no longer be a...
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  • Stocks on Wall Street battle for direction as SVB's failure ignites fears for banks

    19 days ago - By Business Insider

    US stock futures jumped Monday after the Biden administration said it would backstop Silicon Valley Bank's customers. Getty Images
    US stock futures traded mixed after the US bailed out SVB's depositors late Sunday night.
    The Biden administration said Sunday that the failed bank's customers would be made whole.
    SVB's collapse last week had rattled markets by dragging down big bank stocks like JPMorgan.
    US stock futures traded higher but erased most of their early gains Monday as big banks continued to struggle after SVB Financial's collapse. Benchmark S&P 500 futures rose 0.12% and Nasdaq...
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  • 'No doubt' that more banks will fail after Silicon Valley Bank's implosion, says the FDIC chair who oversaw part of the 1980s banking crisis

    19 days ago - By Business Insider

    Employees stand outside of the shuttered Silicon Valley Bank headquarters on March 10, 2023 in Santa Clara, California. Justin Sullivan/Getty Images
    A former FDIC chair says there's "no doubt" more banks will fail after Silicon Valley Bank's collapse.
    William Isaac said the collapse of SVB seemed "a lot like the 1980s" banking crisis, per Politico.
    Many observers still think SVB's failure doesn't mean other banks also run the risk of collapsing.
    A former top banking regulator says Silicon Valley Bank's collapse on Friday will undoubtedly cause more banks to fail. "There's no doubt in my...
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