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Financial crisis update
Wed, Apr 2 2008, 12:43 GMT
by Danske Research Team
The aim of this publication is to provide an overview of current stories/issues in relation to the financial market crisis. We update this publication regularly (the previous Financial crisis Update was released on 12 March).
- • The escalation of the financial crisis in mid-March and the downfall of Bear Stearns has been followed by a relief rally brought on by a series of Fed initiatives, JP Morgans offer to take over Bear Stearns and better than feared results from Goldman Sachs, Lehman Brothers and Morgan Stanley.
- • Most markets have showed improvement in recent weeks, but the improvement is not total. Eg, money markets and municipalities have shown little or no progress recently.
- • The financial crises have abated somewhat recently, but could flare up again with little or no warning. We doubt that we have seen the last bout of rising risk aversion and growing fear of systemic risks in the financial sector. However, what, when and how strong the next escalation of the financial crisis will be are questions tinged with much uncertainty.
Key things to watch going forward:
- • Late April/early May - Monoliners start reporting Q1 08 results
- • 17 April - Merrill Lynch Q1 2008 result
- • 24 April - Credit Suisse Q1 2008 result
- • 6 May - UBS Q1 2008 results
- • A large number of European banks will also report results in the next couple of months
- • How will the already implemented initiatives from the central banks work? And what new initiatives are in the pipeline? Especially BoE and ECB may announce changes shortly
- • Early May - US Fed Senior Loan Officers Survey on Bank lending practices
- • Early/mid April - ECB Bank Lending Survey
Published on Wed, Apr 2 2008, 12:50 GMT
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Published On Wed, Mar 12 2008, 15:30 GMT
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