Good Thursday morning to everyone!
Credit Suisse shares soared over 30% this morning after the bank said it will borrow up to 50 billion Swiss francs from the Swiss National Bank. This pushed most major markets in Europe into the green halfway through the trading day as they await the decesion from the European Central Bank.
- London’s FTSE is having the best day up 89 points, or 1.120%, while France and Germany’s markets are up 1.0% and 0.71%, respectively.
- The ECB was supposed to raise rates by 50 basis points to 3.5%, but with everything happening with Credit Suisse many believe the ECB will pause this month.
Asian markets were down across the board with Hang Seng Index falling the most with a 335-point drop, or 1.72%, followed by Shanghai and Japan falling 1.12% and 0.80%, respectively.
US Markets are mixed ahead of jobs and housing data with the Nasdaq futures up slightly (+0.11%) while Dow and S&P futures are down .033% and 0.25%, respectively.
- The 10-year is up 5 basis points to 3.46%