- Wealth PMS (50L+)
Sorry for all those news coming from international sources. There’s one more. This time it’s an Austrian Bank, called Raiffeisen. These is how the bonds of this bank were, yesterday, from Zero Hedge.
The bonds fell to as low as 48 yesterday. The bank, says Bloomberg, has a large exposure to Russia, with a potential loss of 500 million Euros. It also has 4.3 billion euros worth of Swiss Franc based loans given mostly in Poland. That repayment cost just went up 20%! (So, expect defaults)
Banks don’t go down nowadays. They just get rescued after causing turmoil in the market. So yeah, let’s await the statement of superman Draghi that says Everything Must Be Rescued If It Is A Bank.
To subscribe to new posts by email, once a day, delivered to your Inbox:
Also, do check out Capital Mind Premium, where we provide high
quality analysis on macro, fixed income and stocks. Also see our
portfolio which has given stellar returns in our year, trade by trade
as we progress. Take a 30-day trial: