Marketmind: Bond blows batter banks as SVB cracks

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Reuters UK

A look at the day ahead in U.S. and global markets from Mike Dolan If you were looking for signs of stress from the brutal hit to bond markets over the past year, and the seismic repricing there again since the start of February, look no further than the sudden quake in bank stocks. U.S. and global bank shares dived over the past 24 hours – wiping out about $100 billion in value – after west coast lender Silicon Valley Bank scrambled to reassure venture capital clients that their money was safe after a capital raise led to its stock collapsing 60%. SVB Financial launched a $1.75 billion share …

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