Almost There.
A decent gain in stock prices on Monday was put down to a combination of an oversold bounce from the anguish of the two prior sessions, UBS finally putting Credit Suisse (CS) out of its misery by buying their Swiss banking rival for less than half of its value as well as not-too-guarded optimism about what Federal Reserve Chair Jerome Powell might say in his press conference later in the week, specifically speculating that he might formally announce that the rate-hiking cycle was over.
Concerns about First Republic Bank (FRC) just refused to go away. Despite stories of an orchestrated rescue…
The skinny
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