Research Briefing | Mar 13, 2023
SVB collapse contained, but we remain cautious risk
We think the collapse of Silicon Valley Bank (SVB) will be contained and is not a sign of systemic risks to the banking sector. However, with the US economy likely heading for recession we reiterate our underweight positions on risk assets.
What you will learn:
- Last week’s liquidation of Silvergate Capital and the collapse of Silicon Valley Bank have raised questions about the risks of financial instability to the US economy, leading to a spike in the financial stress indicator within our Cross Asset Framework.
- However, our macro colleagues believe the events should not have significant broader implications for the economy and are not a sign of systemic risks to the banking sector.
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