Welcome, Traders!
It is Sunday 12th / Monday 13th of March, depending on where you are.
Here are some things to expect ahead of the APAC session today.
Sentiment
The Japanese yen and Swiss franc were among the best-performing Group-of-10 currencies on Friday, aided by safe-haven demand. A currency strength index fell as traders revised their outlook for the Federal Reserve's monetary policy path in the face of mounting banking-sector concerns and a mixed US jobs report.
ICYMI
- Bank of England: We intend to apply to the court to place SVB UK into a bank insolvency procedure.
- The United States is discussing a fund to protect depositors if additional banks fail.
- UK's Chancellor Hunt: We need move gradually on tax cuts.
- UK's Chancellor Hunt: We will come forward with short-term and longer-term solutions over SVB.
- UK lenders have given 24 hours to rescue SVB UK, according to Sky News.
- US Treasury Secretary Yellen: I'm certain the FDIC is evaluating a variety of options for SVB, including acquisitions.
- The US government is set to make a material announcement on Sunday to shore up SVB deposits and prevent more fallout, according to sources.
- FDIC auction for SVB said to be underway and final bids are due Sunday.
Good luck!
