Banking turmoil and recession risks are spelling trouble for the global IPO market, keeping it mired in a slump even after investors started the year thinking that the worst of the stocks rout might be over.
Top US regulators said Friday that while some banks are coming under stress the overall financial system is still sound, seeking to reassure depositors and investors rattled by recent bank failures.
Investors are steering clear of corporate America’s most vulnerable borrowers, even as credit markets rally on bets that the worst of the global banking crisis may be over.
Bond traders Friday all but abandoned wagers that the Federal Reserve will raise interest rates in May and added to bets that its next shift will be a rate cut as early as June as the US approaches a recession.
89Bio Inc. is poised for its best week in more than five months after revealing promising new data for a treatment of a common liver disease tied to obesity.
Happy Friday. It’s Crystal Tse from New Orleans today with some mood music from an M&A conference. We also look Silicon Valley Bank’s new potential buyer and Toshiba’s buyout deal.