Deutsche Bank shares fall 9% after surge in cost of insuring against its default

Shares of the German lender have fallen for a third straight day and have now lost more than a fifth of their value so far this month. A logo is displayed above the headquarters of Deutsche Bank AG at Aurora Business Park in Moscow, Russia. Andrei Rudakov | Bloomberg | Getty Images Shares of Deutsche … Read more

Financial instability as the main market risk: Wells Fargo

A major Wall Street firm ranks financial instability over inflation as the biggest economic risk for the next three months. In an interview following the Federal Reserve’s quarter-point interest rate hike, Michael Schumacher of Wells Fargo Securities suggested that policymakers are underestimating how rapidly tightening credit conditions could hurt the economy. “The Fed doesn’t really … Read more

Bill Ackman says US did the right thing in protecting SVB depositors

Billionaire investor Bill Ackman said the US government’s intervention to protect depositors after the Silicon Valley Bank implosion is “not a bailout” and is helping to restore confidence in the banking system. In a tweet, the Pershing Square CEO said Monday’s SVB fallout indicated the government had done the “right thing”. But not all Wall … Read more