by Kevin Hughes, DC Clothesline:
The price of silver soared on Monday, March 13, as its safe-haven appeal drew in investors scared by the recent collapse of Silicon Valley Bank (SVB). The price of the precious metal increased 6.3 percent to $21.81 per ounce during the morning session.
“A lot of investors are looking to the precious metal space as a safe haven against this volatility and this risk … amid a much lower interest rate environment, and the U.S. dollar that’s dropping, which is lifting their prices,” said Bart Melek, head of Commodity Strategy at TD Securities.
Update (10:30am ET): So much for Credit Suisse thinking it has leverage by balking at the proposed CHF0.25 offer from UBS. Just hours after it was floated that UBS could buy Credit Suisse for $1BN, a proposal which the bank’s shareholders balked at, Bloomberg reported that authorities are now considering a full or partial nationalization of Credit Suisse – an outcome which would wipe out the equity and bail-in bondholders – as the only other viable option outside a UBS Group AG takeover. And yes, 0.25 is still more than 0.0.
Language control.
Seven children were paralyzed by vaccine-derived polio linked to the new nOPV2 polio vaccine developed by the Bill & Melinda Gates Foundation, according to health officials in the Democratic Republic of the Congo and Burundi and the Global Polio Eradication Initiative (GPEI), which on Thursday announced the news.
