Rubrics Morning Comment 20.03.23 – Rubrics – Asset Management

20th March 2023

UBS to Buy Credit Suisse in $3 Billion Deal to Fight Crisis

Government to backstop some losses, provide liquidity

Authorities pushed for deal amid worsening confidence crisis

https://blinks.bloomberg.com/news/stories/RRSVHHT1UM0X

Fed and Global Central Banks Move to Boost Dollar Funding

Central banks will boost frequency of swap-line operationsFed and Global Central Banks Move to Boost Dollar Funding;

They say step will help shield economies from funding strain

https://blinks.bloomberg.com/news/stories/RRSQDZT0G1KW

Risk Off Returns as Traders Gauge Response to Global Bank Crisis

This is the start of a potentially long and wild week: Nomura

Swaps pricing in 70% chance of quarter-point Fed hike in March

https://blinks.bloomberg.com/news/stories/RRT4H3T1UM0Y

Case for Fed Pause Builds After Crisis-Echoing Move on Swaps

Coordinated boost to liquidity comes days before Fed meets

UBS deal to buy Credit Suisse follows three US bank collapses

https://blinks.bloomberg.com/news/stories/RRSW74T1UM0W

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