Credit Suisse bond wipeout sends shockwaves through global banking industry.
TL;DR Summary
Credit Suisse's $17bn loss in the bond market has left Asia investors "gobsmacked". The bank's risk management practices have been called into question, with some investors expressing concern over the potential impact on the wider market. Credit Suisse has said it will take "a high single-digit billion loss" in the first quarter of 2021 due to the collapse of US hedge fund Archegos Capital Management.
- Asia investors 'gobsmacked' by $17bn Credit Suisse bond wipeout Financial Times
- European bank CoCos under pressure after Credit Suisse sale to UBS triggers historic loss on specialty bonds MarketWatch
- Asia's regulators say banking system is robust and stable after UBS-Credit Suisse takeover deal CNBC
- Most Risky Asia Bank Bonds Rebound After Credit Suisse AT1 Debt Wipeout Bloomberg
- The $275 billion bank convertible bond market thrown into turmoil after Credit Suisse's securities wiped out MarketWatch
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