Credit Suisse, Sabadell… how mean it is to single them out
The banking tsunami generated by the collapse of SVB and Signature Bank – which the Fed wants to close by offering to buy bonds at par, not at market price, from banks in need of liquidity – threatens to turn into a financial crisis. That is the threat today from markets that are out for blood to stop interest rates rising. The big European banks, such as Santander and BBVA,…