Published by
Reuters UK
Reuters UK
By Naomi Rovnick and Mehnaz Yasmin LONDON (Reuters) -For months, investors had shrugged off the threat of rising interest rates. That changed this week. U.S. tech specialists Silicon Valley Bank’s failed scramble for fresh capital, after losing $1.8 billion selling a package of bonds to meet depositor demands for cash, sparked a global rout in bank stocks – and a rethink. In SVB’s case, venture capital clients, unable to raise cash elsewhere, pulled money from the bank, forcing its hasty sale of bonds at a loss. While the SVB case may be exceptional, banks everywhere face similar risks. It’s a…