![]() ![]() ![]() The Biden administration is considering naming Adriana Kugler, the U.S. The White House weighs two nominations for the Fed. ![]() That leaves them exposed to further drops in office property values and consumer spending - which could lead to a wider credit crunch. They account for about 80 percent of commercial real estate mortgages and 45 percent of consumer lending, according to Goldman Sachs. That view was also reflected in how little the S&P 500 financials sector moved on Monday after the bank’s sale was announced.īut smaller lenders do face significant concerns. How fragile are regional banks? Analysts say First Republic’s problems were unique and not shared more widely across the sector. That skepticism was readily apparent at the Milken Institute Global Conference, a gathering of high-powered financiers in Los Angeles: “There’s a tendency to breathe a sigh of relief on mornings like this,” David Hunt of PGIM, a global asset manager, said in his opening remarks. “This part of the crisis is over,” he told analysts on Monday.īut Wall Street isn’t convinced yet, as investors worry that potential new regulations and constrained lending could endanger the fragile economy. After JPMorgan Chase secured a deal to buy the embattled First Republic, the banking giant’s chief, Jamie Dimon, asserted that the market turmoil set off by Silicon Valley Bank’s collapse was at an end. ![]()
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