A pedestrian passes a UBS Group AG bank branch in Zurich, Switzerland. — Bloomberg
HEDGE funds managers and other large investors believe it is far too soon to call an all-clear on turmoil in the global financial sector even after more than a week of financial lifelines, central bank assurances and a massive banking rescue deal.
In the past two weeks, two US banks have collapsed, America’s biggest lenders agreed to deposit US$30bil (RM134bil) in another ailing firm, First Republic Bank, Credit Suisse Group AG needed a lifeline and at the end of a frenetic weekend agreed to be taken over by UBS.
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