First Deutsche Bank, now Credit Suisse: according to Bloomberg, the second largest Swiss bank, is also preparing to take advantage of euphoric markets and is considering selling stock valued at more than 3 billion Swiss francs ($3 billion) as it seeks to boost capital levels. The news sent the stock sliding.
European stocks are modestly in the green as gains in banks and oil companies offset declines in miners. Asian stocks and S&P futures rise with Emerging-market stocks extending their longest winning streak since August on the back of the 5th consecutive daily drop in the USD.
David Rockefeller, the famous banker and philanthropist with the family name that controlled Chase Manhattan bank for more than a decade and wielded vast influence around the world in the world of finance, has died on Monday morning at his home in Pocantico Hills, N.Y. He was 101.
A family spokesman, Fraser P. Seitel, confirmed the death.
Below is an exccerpt of his obituary from the NYT:
One of Janet Yellen's stated reasons behind the Fed's rate hike has been to reward savers with a slightly higher rate of interest on their deposits: after all, for nearly a decade the interest collected by depositors across US banks, with a few exceptions, has been 0.0% or thereabout.
It's a well-known risk, perhaps the biggest to the global financial system: China's debt is too high, with estimates ranging from 250% to 300% of GDP per the IIF: