Credit Suisse bond wipeout sends shockwaves through global banking industry.
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.