Barron’s (July 19)
“This market risk is a slow-motion wreck waiting to happen.” And yet the U.S. market remains sanguine, largely tuning “out the past week’s tariff drama.” Freya Beamish, Chief Economist at TS Lombard, is “cautioning investors against complacency because multiple ‘low-grade shocks’ can take their toll like that of a frog in boiling water.” The impact of tariffs, deportations and “the series of low-grade shocks the market is struggling to digest” will eventually appear and “investors may be underestimating their impact on inflation.”
Tags: $4 to $5 billion, Carmaker, Demand, Fell, GM, Quarterly results, S&P 500, Stock, Tariff costs, Worries
BBC (April 24)
In the bank’s final quarterly results, Credit Swiss disclosed that nearly $69 billion was withdrawn by depositors during the first three months of 2023. Coming on the heels of a gaping loss in 2022 and forecast loss for 2023, the deposit withdrawal was part of the impetus behind “its forced sale to rival Swiss bank UBS.” The sale has “has angered taxpayers and shareholders of both banks, who were deprived of a vote on the takeover. Some have also argued it has damaged Switzerland’s global reputation as a financial centre.”
Tags: 2023, Banks, Credit Swiss, Damaged, Deposit, Depositors, Forecast, Loss, Quarterly results, Reputation, Shareholders, Switzerland, Takeover, Taxpayers, UBS, Withdrawn
