Investors were monitoring developments out of Washington for details on next steps in the Silicon Valley Bank crisis.
said less than 9% of total cash and bank balances were at SVB. Shares of the company were recently sitting about 0.2% lower after paring some of its earlier losses.The company said its deposit at SVB represents roughly 6.5% of the company's cash and cash equivalents "and otherwise has no exposure to SVB," it said.
Hatzius and a team of economists added they still expect to see 25 basis point hikes in May, June and July, reiterating their terminal rate expectation of 5.25% to 5.5%.Biden tweets regulators reached 'solution' that protects' U.S. financial system "I'm firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again," Biden wrote in a tweet.Silicon Valley Bank went under on Friday, and investor Leon Cooperman thinks this situation is a byproduct of low interest rates from the Federal Reserve.
Focus on companies with strong balance sheets and free cash flow, "and management teams that have great risk control and experience through difficult times," Miletti, the head of active equity at Allspring Global Investments, said Sunday during a CNBC special.
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