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I think.
Current market sentiment has taken control, Barclays, unfortunately is getting hammered.
Triumph 1 the ku you are spot on with your comments. Especially the last bit about CS.
Is it overblown if CS topples?
They Big difference compared to the bank runs of 2008 is the client base. Its not your average Joe on the street who's at risk it's the investors, vc, in this instance. This is overblown.
Large drops today in the markets. Maybe some M&A going to happen over the next few months ,
I would not be surprised if barc get targeted. :-).
C.S's CEO has been waffling on and on about improvement, Their SP wont touch the sides once to55ers like Odey get their shorts built.
Was half expecting a couple of slips in to 140's this week, nothing like this nonsense.
Heard the bill was a couple of billion got snatched shorting bank stocks past week, seems like they haven't finished their meal yet.
Barcs now slammed tight on support, if this gives up . . . Even I will be losing composure.
Crazy week
But...I still fail to see how SVB could cause the final downfall of credit suisse, or more the straw that broke the camels back. I just don't see this particular straw having enough mass. Even if I had money in there now...I wouldn't feel the need to pull it fast. SVB clients were mainly loss making startups who were burning through cash rapidly. The rate of cash burn of these startups given the environment now is what caused SVB to run low on liquidity. It started as a bank run nobody was aware about. Only when SVB attempted to raise funds through equity and selling off their fixed income portfolio did everyone lose their mind and panic, as they then grasped the extent of the issue. The case study (SVB) parameters are simply too narrow to be contagious on a scale. The only way this can go further is if a true state of panic were to happen and everyone decided it were best to just keep their money stuffed under the matress. But that makes no sense. Major banks have already seen very large inflows this week.
Issues are no stranger to credit suisse, and I still fail to see contagion here in the form of a bank run at credit suisse. Still a storm in a tea cup, much ado about nothing ect ect.....IMO of course.
Credit Suisse may still have further impact on Barclays so we could see mid 130's by EOD. On sideline for now!
Maybe due to the fact that our stock market is more weighted toward financial institutions?
Credit suisse announced today that they found some "material weaknesses" in their financial reporting process for 2022 and 2021. Also their main investor, Saudi national bank won't stump up more financial assistance.
Seems to be causing the panic today. Funny thing is....US banks are not nearly as much down pre market as what we are experiencing here. If any bank was going to cause us pain here, it would be credit suisse or DB.
...every cloud lol
Yes, Credit Suisse could go the same way as SVB as depositors continue to withdraw large swathes of funds. Absolute bloodbath. One man's meat is another man's poison though so some opportunity this could be?
Due to Credit Suisse? Down over 20% in pre-market trading.
It is PIGPOG... I've never seen anything quite like it. Trying not to panic. I have zero confidence in the board of directors to issue an RNS that tries to calm the waters. They've probably got their heads in the sand. Someone at BARC needs to get a grip and make a statement otherwise the SP looks like it will continue to crash?
142
This is absolutely ridiculous it is crashing
bit of a depressing start to the day. Thought 147 might have been the bottom :(
144.5 is more of a bargain
At least we are getting some value on the buybacks....every cloud and all that
I lumped in early yesterday at 1.475. A bargain imho
Evening MrWolf,
No boots filled yet! Placed a limit order at 145.50p this morning but not quite reached.
In fairness after ripping the curtains off the pole, I have invested in some Venetian Blinds. I’ll take a peek at the price, look at the volume, look at the live FTSE 350 Banks index (FTNMX301010), US futures etc. Todays dead cat bounce was likely to happen and Good luck to all that have made money over the past couple of days. I want to see what happens for the remainder of the week to see if some true stability returns. If Friday shows as a red day and 150p is broken again, then that may finally prove to be my cue to place my ‘lump’. All in all, it still remains guesswork, gut feel and good luck for me. Still believe UK inflation has pretty much peaked which could be a catalyst for some upward movements next week.
Just my random thoughts. Regards, MrA
AngerSharkz - Go over to the Nano board and tell everyone what you know about the company to support your conclusion that it's rubbish. At least that company doesn't follow the general FTSE so closely and therefore is more immune to geopolitical instability.
Today's BARC recovery is very lethargic. It's because there are big falls to come.
Don't say you weren't warned.
I bought in yesterday morning - a day early! Never mind. Short of a Truss style budget tomorrow then hopefully we'll be back up pretty soon (although all eyes on Credit Suisse which really will start a domino collapse!)
Good to see CPI data did not come in hot. Would be surprised if that does not ensure the end of rate hikes (luckily for the banks). Should see a market rally now. For a bit. Well done to those who bought recently. 162p looks like first resistance. GLA.