This morning (PST), all three major US indices are in the red perhaps because of the return of global banking system fears. Latest scare comes from Deutsche bank after the cost of its insurance against credit default swaps jumped to a multi-year high. There was also news that Credit Suisse and UBS might get scrutinized to check if they helped Russian oligarchs evade sanctions. Confidence in financial system is clearly shaken. US treasury secretary has scheduled a US Financial Stability Council meeting for today. Let's see how the markets react after that.
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