The dollar slid as Goldman Sachs predicted the Bank would not lift rates next week, capping the biggest rally for short-dated Treasuries since 1987
Sydney — US stock futures rallied in Asian trade on Monday as authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank , while investors wagered a rate hike this month was no longer a certainty.
The Fed said it would make additional funding available through a new Bank Term Funding Program, which would offer loans up to one year to depository institutions, backed by Treasuries and other assets these institutions hold. Investors reacted by sending US S&P500 stock futures up 1.8%, while Nasdaq futures rose 1.9%. Euro Stoxx 50 futures firmed 0.4%, and FTSE futures 0.1%.MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.3%, helped by gains in China.
The implied peak for rates came all the way down to 5.06%, from 5.69% last Wednesday, and markets were back to pricing in rate cuts by the end of the year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
British tech sector 'at serious risk' after SVB collapse: govtChancellor Jeremy Hunt warned that Britain's technology and life sciences sectors are at 'serious risk' following the closure of the Silicon Valley Bank.
Read more »
Crypto shaken as SVB Exposure depegs $36bn Stablecoin | BusinessThe second-largest stablecoin in the crypto sector fell from its dollar peg on Saturday, trading as low as 81.5 cents, hurt by the exposure of its issuer Circle Internet Financial Ltd., to the collapsed Silicon Valley Bank. | News24_Business
Read more »
Asian tech leaders scramble to assess Silicon Valley Bank falloutImplosion of SVB should not be underestimated, analysts warn
Read more »
RESCUE BID: Bank of London submits proposal for Silicon Valley Bank’s UK armBank of London has tabled an offer to Silicon Valley Bank (SVB) UK, SVB's subsidiary, the company said on Sunday, adding that it had sent the proposals to British authorities, including the Treasury and the Bank of England.
Read more »
Markets set for aftershocks of Silicon Valley Bank collapseInvestors hate uncertainty and surprises, says CEO after collapse of SVB, the biggest US bank failure since the 2008 financial crisis
Read more »
SATURDAY PROFILE | 'Communities are fed up': Why Zackie Achmat is running for a seat in Parliament | News24As the race to the 2024 elections begins to take shape independent candidates are starting to enter the fold. Zackie Achmat invites Muhammad Hussain on his morning walk with Nawal and talks about why he will be standing for election as member of Parliament.
Read more »