Elevated USDC Redemptions Continue, Signature Investigated Ahead of Closure
Mar 15, 2023
Market Update Equities are falling today as trouble in the financial sector continues, with Credit Suisse ($CS) announcing it had found “material weaknesses” in its financial reporting for 2021 and 2022. Banks led US markets lower today as the S&P fell 1.74%. $CS shares are down over 96% from their all-time high as its largest investor, Saudi National Bank, stated it would not provide any financial support. Trading was halted for $CS and several other European banks. Treasury yields remain highly volatile as the bid-ask spread on the 2-,10-, and 30-year Treasuries jumped to their highest