S&P 500 Futures grind higher, yields rebound as talks of deposit guarantee spread amid banking debacle – by anilpanchal7 SP500 Futures RiskAversion YieldCurve Fed
While portraying the mood, the S&P 500 Futures print mild gains around 3,990, after refreshing an eight-day high, whereas the Treasury bond yields remain inactive but keep the previous day’s bounce off multi-day low. That said, the US 10-year and two-year Treasury bond yields bounced off the lowest levels since September 2022 the previous day.
“US officials are studying ways they might temporarily expand Federal Deposit Insurance Corporation coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis,” reported Bloomberg.
It should be noted that the fears of the FDIC’s inability to cover the US bank deposits, due to the limitations of funds in the reserve, join the doubts surrounding the UBS-Credit Suisse deal to probe the risk-on mood amid a sluggish Asian session. Analysts at S&P think that it is unlikely that some US bank failures will prevent policymakers from sticking to the task of taming inflation, reported Reuters early Tuesday in Asia. The global rating agency also mentioned that the decision to write off Credit Suisse's AT1may contribute to a higher cost of capital for banks. On the same line were comments from a Senior Swiss lawmaker who warned on Monday that “the UBS-Credit Suisse merger is an enormous risk.
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