In today’s briefing:
- SPX Macro Bear into the Summer
- Risk: Should Move to Another Coliseum
SPX Macro Bear into the Summer
- SPX low due near March 27 that sets up a recovery sequence into April. Macro remains bearish into the summer months where financial sector risk is to resurface.
- Weekly MACD set to roll over from reliable resistance after the 4,000 rejection on the daily chart.
- USD holding firm in Asia and EM due to pending risk aversion. Euro rise is corrective in nature.
Risk: Should Move to Another Coliseum
- The UBS takeover of Credit Suisse was announced for $ 3.25 billion below Friday’s closing market capitalization of $7.87 billion.
- SNB will take the first loss of $9.7 billion and provide $100 billion of liquidity.
- Central Bank support triggers Credit Suisse AT1 capital write-downs of approximately $17.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
