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The Latest Breaking News from US Federal Reserve

The baht on Monday surged against a significant fall in the US dollar mainly due to the sudden collapse of Silicon Valley Bank (SVB) and the market's expectation that the US Federal Reserve (Fed) would slow down its policy rate hikes.

Bangkok Post

Shares of regional banks see sharp dip

Shares of Asian banks tanked yesterday as stock markets closed mixed as investors considered US regulators' actions to backstop both financial institutions and deposits following the collapse of Silicon Valley Bank (SVB) could stem further broader risks.

Bangkok Post

Top Obama economist has a 3-point plan to prevent more bank failures

SVB’s collapse is dangerous to a stable financial system, and a blueprint of what banking should not do.

Fortune

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FDIC official warned 4 years ago that uninsured regional bank deposits were an ‘underappreciated risk.’ No one listened, and we’re now paying the price

Regional banks “pose very significant challenges” for regulators, an FDIC board member wrote in 2019, long before Silicon Valley Bank’s failure.

Fortune

Mortgage rates keep climbing as economy grows. What home buyers and sellers should know

The housing market is on the fritz – again.

Tribune News Service

Hedge Fund Manager Calls For Government Intervention As Elon Musk Open To The Idea Of Buying SVB

Bill Ackman calls on the federal government to step in to solve the failed bank as Elon Musk is open to buying the bank

Zenger

3 Software Stocks to Buy Now and Never Sell

Despite the Fed’s hawkish stance, the long-term prospects of the software industry look bright, thanks to rapid digitalization and growing dependency on cloud-based solutions. Therefore, to capitalize on the industry’s tailwinds, it could be wise to scoop up the shares of fundamentally strong software stocks Oracle (ORCL), GoDaddy (GDDY), and…

StockNews.com

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Big tech has long thought itself above the state. Silicon Valley Bank’s meltdown is stark proof that it isn’t

In the US, the Federal Reserve has stepped in to guarantee deposits. The tech sector should realise it can’t go it alone, says James Ball, of The Bureau of Investigative Journalism

The Guardian - UK

Post-mortems begin on Silicon Valley Bank failure - Roll Call

Biden's comments about SVB added to scrutiny of a 2018 law that eased banking requirements, but it's not clear that's what cause the failure

Roll Call

4 Stocks That Could Help Grow Your Portfolio Over the Next Decade

Despite the Fed’s continued interest rate hikes, job growth remains robust. As market uncertainties and risks obscure hopes and optimism, it could be wise to invest in fundamentally sound stocks, Salesforce (CRM), Progress Software (PRGS), Photronics (PLAB), and Forrester Research (FORR), for the long term. Continue reading….

StockNews.com

Top economist Mohamed El-Erian says unlimited deposit guarantee is hard to reverse after SVB fallout: ‘We are now in a different world’

The economist also said that the Fed will likely now “retreat” on interest rate hikes.

Fortune

Silicon Valley Bank collapse: What you need to know

Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks is safe

The Independent UK

The stock market is killing bank stocks after SVB’s collapse, but most investors are cheering a perceived end to the Fed's tightening

“The market is sending a consistent message today: It fears that a U.S. recession is about to start.”

Fortune

How the Fed's rate hike campaign broke things

The pain from monetary tightening has only just begun.

Axios

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Fortune

How Fed shrapnel killed Silicon Valley Bank

Continuing to tighten monetary policy in this environment of bank blowups and declining consumer and business confidence is a surefire recipe for disaster.

The Guardian - UK

Relief in the UK over Silicon Valley Bank. Panic in the US

Sale of SVB’s British subsidiary to HSBC is a satisfactory fix but Fed emerges with less of a worthy halo

Al Jazeera

Biden offers assurances after major US banks collapse

President says banking system is ‘safe’ but will seek accountability after second largest failure in US history.

Tribune News Service

Traders bet on no more Fed hikes, US two-year yields plunge

Treasury bonds surged, pushing key two-year yields to their lowest level this year, as investors bet the collapse of three US lenders will compel policymakers to halt interest-rate increases.

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Reason

How the Fed Broke Silicon Valley Bank

The Fed's anti-inflation measures had to hurt someone.

StockNews.com

These 3 Stocks Makes Collecting Passive Income Easy

Market volatility will likely persist as the countdown to the next FOMC meeting begins. Meanwhile, yet another hotter-than-expected job report came in. Amid price fluctuations, investors looking for stable income could scoop up quality dividend-paying stocks Valero Energy (VLO), Ennis (EBF), and Sisecam Resources (SIRE) now. Read on….

Evening Standard

SVB is a victim of the US Federal Reserve’s obsession with inflation

City Voices: Ramping up interest rates so quickly was bound to create mayhem

Chicago Sun-Times

‘Your deposits will be there when you need them,’ president says

President Joe Biden on Monday moved to assure the public after the swift and stunning collapse of two banks that prompted fears of a broader upheaval.

The Guardian - US

There’s a deeper story to Silicon Valley Bank’s failure. What can we learn from it?

Financial deregulation led to the crash in 2008 and it could again in 2023. It’s time to make banking boring again

Axios

First Republic leads rout as SVB backstop fails to quell jitters

Investors fearful of a bank run are selling stocks and driving down bond yields.

Fortune

Billionaire investor Bill Ackman says U.S. regulators ‘did the right thing’ by saving Silicon Valley Bank depositors

But he warns more banks "will likely fail."

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