Credit Suisse's CEO said on Friday the bank was working hard to stem customer outflows
An employee passes share price information displayed on an electronic ticker board inside the LSE in London on May 29 2019. Picture: LUKE MACGREGOR/BLOOMBERG
Global markets stabilised somewhat on Thursday, helped by Credit Suisse saying it would borrow up to Sf50bn from the Swiss National Bank and, later in the day, a group of major banks injecting $30bn in deposits into First Republic Bank, a mid-sized US lender. The US two-year treasury yield, which is the most sensitive to shifts in interest rate expectations, was up two basis points on the day at 4.1384% — still closer to Wednesday's six-month low of 3.72% than the peak of 5.084% it hit the previous week, which had been its highest since 2007.
The benchmark German 10-year yield was steady at around 2.255%, and short-dated eurozone government bond yields rose.
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