Member Info for mick-b

""Markets have become increasingly divided as to what the FOMC may well do when it comes to interest rates tomorrow, with opinions split between another 25 basis point hike, a pause, and a 25bps rate cut," said Michael Hewson, chief market analyst at CMC Markets."

Gold $1966
https://www.bullionvault.com/gold-price-chart.do

FTSE100 UP 0.3%
view live >>>>>
https://www.ig.com/uk/indices/markets-indices/ftse-100

https://www.teletrader.com/europe-higher-premarket-as-banking-woes-ease/news/details/59676170?internal=1

AT1 = Additional tier one BONDS are written in Swiss law to be ahead of shareholders should bankruptcy occur.
RADIO 4 expert said so.

FTSE100 DOWN 1.4%
view live >>>>
https://www.ig.com/uk/indices/markets-indices/ftse-100

https://www.teletrader.com/europe-lower-premarket-after-credit-suisse-takeove/news/details/59668874?internal=1

FTSE100 DOWN 1.3%
view live >>>>
https://www.ig.com/uk/indices/markets-indices/ftse-100

https://www.teletrader.com/europe-lower-premarket-after-credit-suisse-takeove/news/details/59668874?internal=1

The United States Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank announced on Sunday that they are taking action to enhance the provision of liquidity via the standing dollar liquidity swap line arrangements.
"To improve the swap lines' effectiveness in providing US dollar funding, the central banks currently offering US dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily," the banks said. The operations will start on Monday and continue "at least" to the end of April. They explained that the network of swap lines "serve as an important liquidity backstop to ease strains in global funding markets" and are "helping to mitigate the effects of such strains on the supply of credit to households and businesses."
Baha Breaking News (BBN) / DJ

The United States Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank announced on Sunday that they are taking action to enhance the provision of liquidity via the standing dollar liquidity swap line arrangements.
"To improve the swap lines' effectiveness in providing US dollar funding, the central banks currently offering US dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily," the banks said. The operations will start on Monday and continue "at least" to the end of April. They explained that the network of swap lines "serve as an important liquidity backstop to ease strains in global funding markets" and are "helping to mitigate the effects of such strains on the supply of credit to households and businesses."
Baha Breaking News (BBN) / DJ

FTSE100 futures amazing UP.
https://www.ig.com/uk/indices/markets-indices/ftse-100

The biggest problem was the speed of rate rises
This caused Treasury bond prices to rapidly drop

https://www.bullionvault.com/gold-price-chart.do

Safest place for dosh......
NS&I savings and investments are backed by HM Treasury, which means any money you invest is 100% safe.
Up to a million can be deposited

Bloomberg writes of a $1bn offer from UBS at 0.25 CHF a share when the stock closed Friday at 1.86 CHF.

Investment bank UBS Group AG made an offer to buy Credit Suisse for up to $1 billion and the deal is expected to be an all-share acquisition priced at a fraction of Credit Suisse's closing price on March 17, the Financial Times reported on Sunday, citing sources.
The Swiss authorities are reportedly planning to change the country's laws to bypass a shareholder vote on the transaction and finalize the deal before Monday. According to the report, UBS insisted on a material adverse change clause that nullifies the agreement if its credit default spreads increase by 100 basis points or more.
UBS reportedly previously asked the Swiss government to cover approximately $6 billion in costs if it were to acquire Credit Suisse.
Baha Breaking News (BBN) / NL

https://www.teletrader.com/ubs-reportedly-may-buy-credit-suisse-for-up-to-1b/news/details/59666622?internal=1

Investment bank UBS Group AG made an offer to buy Credit Suisse for up to $1 billion and the deal is expected to be an all-share acquisition priced at a fraction of Credit Suisse's closing price on March 17, the Financial Times reported on Sunday, citing sources.
The Swiss authorities are reportedly planning to change the country's laws to bypass a shareholder vote on the transaction and finalize the deal before Monday. According to the report, UBS insisted on a material adverse change clause that nullifies the agreement if its credit default spreads increase by 100 basis points or more.
UBS reportedly previously asked the Swiss government to cover approximately $6 billion in costs if it were to acquire Credit Suisse.
Baha Breaking News (BBN) / NL

https://www.teletrader.com/ubs-reportedly-may-buy-credit-suisse-for-up-to-1b/news/details/59666622?internal=1

Re Credit Suisse:

Bloomberg writes of a $1bn offer from UBS at 0.25 CHF a share when the stock closed Friday at 1.86 CHF.

Switzerland prepares emergency measures to deliver UBS takeover of Credit Suisse

https://txtify.it/https://www.ft.com/content/5746165a-3a0c-42c7-9a2e-cb7cf5f33f46

Switzerland is preparing to use emergency measures to fast-track the
takeover by UBS of Credit Suisse, according to three people familiar
with the situation, as the banks and their regulators rush to seal a
merger deal before markets open on Monday.

"The Silicon Valley Bank (SVB) episode will test, and may curb, the Fed’s appetite for accelerating its use of interest rates to cool price rises. We’ll find out next week if there is a change of tack.

Another fallout could be increased resistance to one particular UK growth initiative – the theme at the heart of this week’s Budget. The government harbours ambitions to release locked-up reserves at banks and insurers for investing in infrastructure, and fledgling tech and biotech businesses. But one reason why SVB has not triggered a second financial crisis is because banks have been forced to be well capitalised. Tampering with that now to achieve other goals could be foolhardy.

The Budget made it clear, though, that plans to channel investment from defined contribution pension funds “and other sources” into long-term assets are going ahead. This, however, was only one strand in a multi-strand growth Budget."

Extracted from this weeks Editorial article of the Investors Chronicle

TROAJAN

Have held both CEY and PAF
CEY
Turning a decent profit to a modest profit after I sold @ 110p due to the near collapse of a mine wall causing production to drop from 500K ounces to 400K, a couple of yrs ago. Guidance is for 440K now.
"Sukari gold production of 440,974 oz, a 6% increase on 2021 and in line with guidance" - CEY REPORT

PAF
Bought a couple of yrs ago at 20p....it then dropped and recovered a yr later at 20p, so sold.
Their big problem is a weak and volatile currency ...the ZAR
"Pan African’s presentation currency is the United States dollar (US$). The
US$/ZAR exchange rate affects the reporting of the Group’s results in US$." - PAF REPORT

Their Navy maintains 11 carrier strike groups, 10 of which are based in the United States and one that is forward deployed in Japan. CSG or CVBG normally consist of 1 Aircraft Carrier, 2 Guided Missile Cruisers, 2 Anti Aircraft Warships,and 1-2 Anti Submarine Destroyers or Frigates.