In a wild day for US markets, bonds and stocks rally but banks crater

In a wild day for US markets, bonds and stocks rally but banks crater
(Image: Getty)
Bloomberg
By Jessica Menton and Matt TurnerUS authorities have raced over the past few days to put together a package of emergency measures that would snuff out fears about the health of the banking system.  Today, it had limited success, at best. US bonds rallied sharply and stock indexes recovered from their lows, but in the one sector that matters most right now – regional banks – losses piled up at a frantic clip. Shares of First Republic Bank sank 62%, Western Alliance Bancorp 47% and PacWest Bancorp 21%, tripping multiple trad...

More Finance

No longer 'boutique' Generate is executing, CEO says
Finance

No longer 'boutique' Generate is executing, CEO says

The fund manager is now the seventh-largest KiwiSaver provider.

Gregor Thompson 09 May 2025
ANZ half-year profit surges on non-cash gains
Finance

ANZ half-year profit surges on non-cash gains

Cash earnings were flat, and net interest margin rose slightly.

Pattrick Smellie 08 May 2025
BNZ preserves margins on flat half-year
Finance

BNZ preserves margins on flat half-year

BNZ outranks its Australian cousins for customer preference.

Pattrick Smellie 07 May 2025
Westpac's NZ net interest margin expands again
Finance

Westpac's NZ net interest margin expands again

Net interest margins rose in NZ, but shrank for the group as a whole.

Pattrick Smellie 05 May 2025