CNBC Daily Open: Not everyone’s happy about UBS buying Credit Suisse
Publishing timestamp: 2023-03-20 19:33:11
Summary
UBS' planned takeover of Credit Suisse calmed the market slightly, but broader market conditions still look unstable. First Republic Bank continued to sink, while other regional U.S. banks rebounded. The market instability is increasing, and there are warnings of a potential "Minsky moment" on the horizon. The Federal Reserve is facing a difficult decision regarding interest rates, as any action or inaction could cause instability to spread.
Sentiment: MIXED
Tickers: CSG.N-CH, FRC, KEY, PACW, NYCB, UBSG-CH,
Keywords: first republic bank, ubs group ag, new york community bancorp inc, credit suisse group ag, federal reserve bank, interest rates, markets, economic events, federal reserve system, world markets, banks, central banking, pacwest bancorp, business news, keycorp,