Key Takeaways
- Bank stocks sold off heavily last week, as nervous investors ran for the exits over – well, basically nothing
- With no fundamental reasons for the sell off, they’ve rebounded swiftly on Monday
- First Citizens Bank is up over 45%, on news that it has acquired over $72 billion of assets from collapsed Silicon Valley Bank, at a discount of $16.5 billion
After the collapse of Silicon Valley Bank and Signature Bank, as well as the weekend fire sale of Credit Suisse to rival UBS, Deutsche Bank was in the headlines last week as the latest in the financial sector to come under pressure.
There have been numerous analysts and public commentators expressing concerns over the banking sector, worried about whether the initial collapses were a sign of a financial crisis brewing underneath the surface.
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