In the face of a series of bankruptcies in the U.S. banking sector, U.S. officials are also trying to bail out the market, and now it seems that the panic is slowly dissipating.
But the unexpected is thatEvery move from Europe is likely to make the US bailout a futile move.
Things seem to have gotten much better in the United States in the past two days, and after a weekend, the panic seems to have passed.
First Citizens Bank agreed to take over all of the deposits and loans of the bankrupt Silicon Valley Bank.
And on the other hand,Deposits in the United States have been flowing from regional banks to large banks, but this trend is slowly coming to a halt.
These are also reflected in the US stocks, last night the US regional bank stocks were generally ****, First Citizens Bank even rose by 54%, and the first Republic Bank in crisis also ** 30%.
But Wall Street analysts warn that the bailout has not yet been successful, and that the bond crisis triggered by Credit Suisse is likely to lead to the failure of all previous bailouts in the United States.
Last week,Credit Suisse's $17 billion debt was declared to be zero overnight by Switzerland, and investors' capital was lost.
The exposure of this news has undoubtedly greatly reduced people's trust in the current bond market.
From the point of view of the strength of the bailout, there is no doubt that Europe is stronger than the United States, but Europe's move has also taken the United States by surprise.
The first accidentUnexpectedly, in just a few days, Credit Suisse was acquired by UBS Group at a low price.
The reason why Switzerland** took this step so quickly was because it wanted to use UBS's credit and funds to support Credit Suisse to cushion the financial turmoil in Switzerland.
As early as 2022, there were major deficiencies within Credit Suisse, as a result, depositors withdrew a large amount of funds from Credit Suisse, and up to 800 billion yuan of deposits were lost, resulting in a serious crisis in Credit Suisse's capital flow.
When there was no problem with Credit Suisse, there was already a problem with Credit Suisse's capital chain, and now there is a problem, so the 50 billion Swiss francs provided by the Swiss bank will not last long.
Therefore, the merger of the two banks needs to be accelerated.
WhileThe second surprise is, directly and simply announced, $17 billion in debt will be cleared.
However, the decision made by Switzerland** ended up not only losing credit to Swiss banks, but also losing confidence in the bond market under the entire Western system.
It can be said that this move by Europe has made the United States even more troublesome.
All bonds are based on action, and US Treasuries are built on the confidence of all holders in the United States, but now this message has been repeatedly shaken.
In the previous year, the sell-off of US bonds had been a top priority for central banks, leading to warnings from both US Treasury Janet Yellen that the liquidity of Treasury bonds was in danger.
The recent sudden liquidation of Credit Suisse's bonds has triggered a new round of sell-off in US bonds. The latest data suggests that last week overseas official institutions suddenly stepped up their efforts to sell US bonds, creating a setThe highest weekly selling record in the last 9 years.
If the collapse of several previous banks was just a starter for the crisis in the US financial sector, the main course may soon be on the table. Once U.S. bonds are sold by institutions and **, the entire bond market will suddenly lose liquidityEven if the U.S. raises its debt ceiling, it will be difficult to issue new Treasury bonds.
The U.S. Treasury once said it would buy back Treasury bonds, but by that time, what will be used to complete the repurchase?
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