Daily Dispatches

By Laura Noonan, Stephen Morris, James Fontanella-Khan,
Arash Massoudi, and Owen Walker
Financial Times, London
Saturday, March 18, 2023

Switzerland is preparing to use emergency measures to fast-track the takeover by UBS of Credit Suisse, according to three people familiar with the situation, as the banks and their regulators rush to seal a merger deal.

Under Swiss rules, UBS would typically have to give shareholders six weeks to consult on the acquisition, which would combine Switzerland's two biggest lenders.

... Dispatch continues below ...

And maybe even the stones had been rehypothecated.

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By Harry Dempsey
Financial Times, London
Friday, March 17, 2023

The London Metal Exchange has found bags full of stones at one of its warehouses instead of the nickel they were supposed to contain in the latest drama to hit the scandal-stricken metals market.

By Alasdair Macleod
GoldMoney, Toronto
Thursday, March 16, 2023

Following the day-to-day twists and turns of a banking crisis can make us lose sight of the bigger picture. It is tempting to think that the banking authorities are in control and will secure the integrity of their commercial banking networks. Unfolding events may or may not prove this to be true.

By Craig Hemke
Sprott Money, Toronto
Wednesday, March 15, 2023

The biggest story of 2023 is not a function of IF the Fed will pause and then pivot to rate cuts. Instead, it's a matter of WHEN will this shift take place. This monetary policy change is coming, and it's actually much closer than you think.