CNBC Daily Open: Janet Yellen's guarantee to banks comes with a catch
Publishing timestamp: 2023-03-22 02:01:37
Summary
U.S. Treasury Secretary Janet Yellen said the government could guarantee deposits at other banks if they pose a threat to the banking system, which led to a brief surge in regional bank stocks. However, Yellen believes "the situation is stabilizing." Gold prices are expected to breach their all-time high, and Morgan Stanley is bullish on stocks in Asia and emerging markets. The Federal Reserve's decision on interest rates is eagerly awaited, with markets pricing in an 86% chance of a quarter-point increase. Analysts believe a rate hike would signal confidence in the Fed's ability to handle inflation and market turmoil.
Sentiment: MIXED
Tickers: KEY, FRC, PACW, .HSI,
Keywords: federal reserve bank, markets, asia news, first republic bank, janet yellen, hang seng index, keycorp, economic events, united states, banks, world markets, business news, interest rates, pacwest bancorp,