Closely Watched News
U.S. Treasury Secretary Janet Yellen said Friday she’s tracking Silicon Valley Bank’s problems as it deals with big losses. “You mentioned Silicon Valley Bank,” Yellen said, as she responded to a lawmaker while testifying before the House Ways and Means Committee. “There are recent developments th Source
A leading infectious-disease expert said this week that data is showing the coronavirus has moved to the endemic phase. Source
Silicon Valley Bank has been closed by the regulator, amid a spiraling crisis at its parent SVB Financial Group. Source
An obscure provision of a 1996 law unwittingly makes the Social Security trust fund vulnerable to being raided Source
Heavy trading in SVB Financial debt push its 10-year bonds as low as 31 cents on the dollar on Friday after the failure of its subsidiary Silicon Valley… Source
SVB Financial faced a perfect storm, but there are plenty of other banks that would face big losses if they were forced to dump securities to raise cash. Source