Silicon Valley Bank, a pillar of the startup world, collapsed last week, prompting a global reckoning at venture capital and private equity firms. This marks the second Silicon Valley bank collapse in the past week and has raised fears of a banking crisis. The cause of the collapse was a run on the bank after […]
Continue readingOn Friday, Silicon Valley Bank, a key lender for the tech industry, collapsed after 48 hours of chaos and became the second-largest bank failure in US history. The Federal Deposit Insurance Corporation (FDIC) shut down the bank, citing a “catastrophic bank run” and liquidity issues. The collapse of Silicon Valley Bank is the largest bank […]
Continue readingMortgage rates increased again this week, with the average rate on a 30-year fixed-rate mortgage hitting 7.16%, up from 6.73% last week, according to Freddie Mac.[0] This is the fifth consecutive week of rate increases, and the highest rate since November. Homebuyers are facing compounding challenges of affordability and low inventory, and the typical US […]
Continue readingThe 10-year U.S. Treasury yield tumbled to 3.69% last week and then further to 3.47% on Monday morning, as investors sought safe-haven investments following the collapse of Silicon Valley Bank (SVB).[0] The 2-year yield plunged 50 basis points to 4.9%, as Fed rate hike odds fell.[1] To prevent a wider contagion, the Federal Reserve announced […]
Continue readingSilicon Valley Bank, the iconic California lender to venture-backed technology and healthcare companies, failed on Friday amid a tumultuous week of turmoil fueled by its announcement that it would try to raise more than $2 billion in capital after taking losses. The collapse of the second-largest bank failure in U.S. history sent shockwaves through the […]
Continue readingThe 10-year U.S. Treasury yield tumbled to 3.69% last Friday, and then to 3.47% on Monday morning, as safe-haven flows drove bonds sharply higher following the Silicon Valley Bank (SVB) collapse.[0] The 2-year yield plummeted to 4.59%, including 31 basis points on Friday and 48 points on Thursday-Friday. Meanwhile, the 10-year yield fell 15 basis […]
Continue readingRivian Automotive (NASDAQ:RIVN) and Amazon.com Inc (NASDAQ:AMZN) are in talks to end their exclusivity agreement, the Wall Street Journal reported Monday, citing people familiar with the matter.[0] Under the terms of the 2019 deal, Rivian is required to sell all of the electric vans it makes to Amazon.[0] However, the ecommerce giant recently informed the […]
Continue readingThe Citroen Ami is an electric microcar that has recently been gaining attention due to its unique design.[0] Measuring only 7.9 feet (2.41 meters) long, 4.6 ft (1.39 m) wide, and 5.0 ft (1.52 m) tall, the Ami has a cube-like body that sits relatively close to the ground with a clearance of only 5.1 […]
Continue readingThe PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, offering retail and business banking, corporate and institutional banking, asset management, and wealth management services. On Monday, shares of PNC Financial Services Group Inc. PNC, -0.51% sank 0.14% to $152.68 on a favorable trading session for […]
Continue readingThis week, Silicon Valley Bank, the 17th-largest bank in the US, faced a sudden collapse and was shut down by federal regulators on Friday morning after a bank run and capital crisis.[0] The shutdown of the California bank, which catered to tech startups and venture-capital firms, marks the largest bank failure since the 2008 recession […]
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