The one that broke the camel’s back

The bailout of SVB depositors, while may have prevented a run on other banks or a contagion impact on the banking sector, it also sends a wrong message to the depositors who had placed large funds into SVB.

IT is often said that one week in politics is a long time. Well, we can now add that to capital markets, too.

A week ago, this column spoke about the US Federal Reserve’s (Fed) relentless pursuit of raising rates to the extent the market was pricing in a 50 basis points (bps) hike in the coming Federal Open Market Committee (FOMC) meeting followed by an additional 25 bps each in May and June before the Fed reaches the pivot point.

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