This week in the Chanticleer podcast, MrJThomson and TonyBoydAFR take a look at a chaotic week on global markets, from the collapse of Silicon Valley Bank to the wave of panic set off by Credit Suisse.
James
Well, it’s been a massive week on global markets, I reckon a once in a decade week. SVB had a unique clientele, it was the go-to bank for the venture capital and tech sector in the US. And that made things worse.It did make it worse because what happened, all of those tech companies that are flooded with capital, just put it in the bank on deposit, and the bank itself couldn’t lend the money fast enough. So, it invested in what we call a ‘carry trade’.
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