Daily Close | Forex, Metals, Oil, Agriculture March 20, 2023



The liabilities are certain and knowable, things like deposits that really need to be paid back at 100 cents on the dollar. Things happen Fed and Global Central Banks Move to Boost Dollar Funding. Here is a prospectus for one of them, a $2 billion US dollar 7.5% AT1 issued in 2018.


When hydropower dries up, the state is obliged to burn more natural gas for power generation.

United States

UBS paid CHF 3 billion for that equity, meaning a CHF 42 billion discount. In Credit Suisse s accounting, it had CHF 531 billion of assets as of Dec. 31; UBS effectively bought them for CHF 473 billion. Bloomberg again: When the terms of the initial UBS offer which valued its rival at just 1 billion francs landed on Sunday morning, the Credit Suisse managers were outraged. The upshot of this for UBS is not that it paid CHF 3 billion to buy its historic competitor.
The badwill is the difference between the price that UBS paid for the assets and their book value. But there is a payment, in stock, of one UBS share for every 22.48 Credit Suisse shares. The US Commodity Futures Trading Commission regulates trading in Bitcoin derivatives, and this bet is, among other things, a Bitcoin derivative. Now UBS owns Credit Suisse; it would like to be able to hang onto it. If Credit Suisse s valuation was too high by 10%, then UBS still makes out okay.
Before Collapse of Silicon Valley Bank, the Fed Spotted Big Problems. A full sale to UBS was the only option. Bloomberg Editorial BoardDonald Trump is stirring up his mob, just as he did in the lead-up to Jan. 6.


Stephen Mihm Xi Jinping and Vladimir Putin both have detailed agendas with differing tactical and strategic needs.