March 16 (Thursday)

Latest Morning Briefing Executive Summary: Banks, Tech & Batteries
SVB wasn’t last week’s only bank run: Two crypto-friendly banks that served as the major gateways to the crypto world also succumbed to depositors deciding to take their money and run. Jackie performs brief autopsies and looks at their impact on the crypto markets and the banks positioned to take their place. … Also: Counterintuitively at this time of economic uncertainty, the Technology sector has been outperforming the broader index since its February 2 peak. … And our Disruptive Technologies focus today is on the quest to build a better EV battery.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on March 13.

Markets
Credit Suisse: Investors wary of contagion amid banking crisis fears | C
Tech Stocks Appear to Be a Haven From the Banking Crisis, for Now | W
Where wealthy investors are putting their cash after SVB collapse | C
JPMorgan Joins TD, Others Saying Cash in Bond Gains as Fed Hikes Possible | B

Central banks
Long-awaited Fed digital payment system to launch in July | C
Cramer: Federal Reserve may need to take drastic measures | C
ECB rate hike plans clouded by banking turmoil | R

SVB & banks
Credit Suisse shares soar over 20% on Swiss National Bank loan announcement | C
Credit Suisse’s $54 billion lifeline gives global banks tentative respite | R
Yellen Seeks to Reassure Congress on Banks Amid Oversight Angst | B
Yellen tells senators US banking system ‘remains sound’ | R
How Goldman’s Plan to Shore Up Silicon Valley Bank Crumbled | W
These Biotech Companies Were Told Their SVB Funds Were Available. It Wasn’t That Simple. | W
Getting Money Out of SVB Was Hard—For Chinese Customers, It Was Harder | W

Energy
G-7 Opposes Lowering Russian Crude Price Cap From $60 a Barrel | W

US
A recession could come sooner on cooling bank lending | C
U.S. Producer Prices Dropped in February | W
Biden’s budget is a declaration of war on American businesses that will hit you hard | FO
How to Stop 2024 From Looking Like 2016 | W
U.S. Maternal Mortality Hits Highest Level Since 1965 | W

Europe
Column: Europe must prepare for next winter to be colder | R

China
Column: China’s uneven economic recovery to be mirrored in commodity imports | R

Japan
Japan, South Korea Break Long Chill and Pledge Cooperation at Summit | W

Geopolitics & trade
North Korea Fires ICBM Hours Before Japan-South Korea Summit | W
U.S. grapples with forces unleashed by Iraq invasion 20 years later | R
TikTok says US threatens ban if Chinese owners don’t sell stakes | R
Russia Makes a Habit of Harassing U.S. Planes, Pentagon Says | W

Industries & companies
Retail: Supplier, Buyer Relations Are Shifting Again as Pandemic Strains Ease | W

Technology
China’s answer to ChatGPT? Baidu shares tumble as Ernie Bot disappoints | R