LONDON: Goldman Sachs has cut its recommendation on exposure to European bank debt to “neutral” from “overweight”, saying a lack of clarity on Credit Suisse’s future path would put pressure on the broader sector in the region.
Credit Suisse was thrown a US$54bil (RM242bil) lifeline by the Swiss central bank last Thursday to shore up liquidity after a slump in its shares and bonds intensified fears about a global banking crisis.
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