Markets Rebound on Easing Contagion Fears
Measures of implied volatility are beginning to subside after the collapse of Silicon Valley Bank triggered a week-long spasm in financial markets and led to a wholesale repricing in global interest rates. European bank shares are rallying, North American equity indices are setting up for a stable open, Treasury yields are up, and the dollar is down. Oil is climbing off the 15-month lows reached during yesterday’s session Credit Suisse shares gained more than 20 percent at the open this morningafter it offered to repurchase debt with up to 50 billion francs borrowed from the Swiss National Bank. The move is expected to...