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Is Credit Suisse about to be the new Lehman Brothers?

ORIGINAL POST
Posted by Ed 19 mths ago
Something is brewing in the financial world
 

There is much speculation that at least one major bank is not fine and could create the next Lehman Brothers moment.

 
ABC Australia, quoting ‘a credible source’, reported that a major investment bank is on the brink. Morgan Stanley have said that the surging US dollar is setting the stage for “something to break” in the financial system. The Bank of America have warned that the Fed is about to break the corporate bond market.
 

The two which are in the worst shape are Deutsche Bank (heavily exposed to the energy crisis) and Credit Suisse. Both are already trading at distressed valuation but I’ll focus on Credit Suisse in this post.

 
https://nakedemperor.substack.com/p/is-credit-suisse-about-to-be-the 
 
 
https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb0862019-c39c-47d2-b2cf-817602e0a9c3_547x374.png
 
https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F31462516-5ce8-45a4-9552-f1a3d2b10e44_748x402.jpeg 
 

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COMMENTS
Ed 19 mths ago
Don't panic: Credit Suisse is not the next Lehman Brothers
 
Junior bankers and traders who are either already at Credit Suisse or who hold offers to join Credit Suisse next year can come out of their safe spaces. Contrary to reports this weekend, the bank is unlikely to be going under. So say some of the most knowledgeable figures in the industry, many of whom actually did witness several banks going under in 2008.

Where did the rumour of Credit Suisse's imminent demise come from? Twitter appears to hold the smoking gun. People like Spencer Jakab of the Wall Street Journal's Head on the Street column, and various pundits have been putting out Tweets like those below, following last Friday's memo from the (latest) Credit Suisse CEO, Ulrich Koerner, informing staff that the "day-to-day stock price performance" of the bank should not be confused with its "strong
 
https://www.efinancialcareers.com/news/2022/10/credit-suisse-the-next-lehman 
 
 
https://youtu.be/gUkbdjetlY8 
 
 

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Ed 19 mths ago
Credit Suisse's S'pore-based Asia deputy wealth head resigns as departures mount
 

SINGAPORE - Credit Suisse Group's deputy wealth management head for Asia is leaving after about two decades with the bank, joining a wave of departures from the embattled firm.

Young Jin Yee, based in Singapore, tendered her resignation last week and may be heading to another firm, according to a person with knowledge of the matter.

"We are in a healthy capital and liquidity position," the bank said in a statement in response to queries from Bloomberg. "Here in APAC, we are focused on ensuring that our clients get the advice they need to navigate challenging times in the markets."

https://www.straitstimes.com/business/banking/credit-suisse-loses-spore-based-asia-deputy-wealth-head-as-departures-mount 

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Ed 19 mths ago
Hong Kong: Credit Suisse shares plummeted 12%, loses private bankers
 
https://youtu.be/yJpaPvx_7UI 

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Ed 19 mths ago
THIS is how close we were to another Lehman-like crisis in the UK- and why.  It's not over....

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