PAY ATTENTION TO $17 BILLION BOND WIPE OUT IN UBS TAKE OVER OF CREDIT SUISSE
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Potential Contagion
Please click here for a chart of multinational investment bank UBS Group stock (UBS).
Note the following:
- Pay attention because there is a risk of contagion from the way the UBS buyout of Credit Suisse (CS) deal is structured.
- The chart shows a close in UBS stock of $18.20 on Friday, an early morning drop to $15.50, and a rise to $17.58 as of this writing. In Europe, the stock traded as low as $14.36.
- The price action is in response to the shotgun marriage orchestrated by the Swiss National Bank between UBS and Credit Suisse over the weekend.
March 20, 2023