‘Bailout Bust’? European Bank Default Risk Rises As Credit Suisse Stock Tumbles
Over $50 billion dollars in fresh liquidity to CS and the market is saying – moar!
Despite SNB’s bailout, Credit Suisse shares are fading back from overnight exuberance…
Additionally, Credit Suisse’s credit risk has barely improved…
European bank stocks are below yesterday’s lows…
As an aside, US regional banks are being sold too…
And more problematically, the credit risk of the European banking sector has soared from the opening lows today…
Now higher risk than at the peak yesterday – before the bailout.
Simply put – we’re gonna need a bigger boat!
Tyler Durden
Thu, 03/16/2023 – 10:36
