The sudden collapse of tech-focussed SVB earlier this month destabilized the sector and drew some of Europe’s biggest banking names into investors’ focus.
Indications that its failure is being resolved by authorities in a smooth manner could help underpin confidence.
“You sweep Silicon Valley off to another buyer, which is good,” said IG Markets analyst Tony Sycamore in Sydney. The sudden spike in tensions for banks has raised questions about whether major central banks will continue to pursue aggressive interest rate hikes to tamp down inflation, and whether tightened lending will hurt the global economy.
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