The Parliamentary Investigation Committee (PUK) has presented a report on the Credit Suisse crisis, highlighting years of mismanagement and regulatory failures that led to its emergency merger with UBS. The PUK will recommend measures to the Federal Council, which must respond by spring 2025, while UBS supports most proposals to enhance the financial center's resilience. The report criticizes the "too big to fail" legislation and the lack of effective supervisory tools during the crisis.
Solana has confirmed an uptrend with a bull flag breakout, targeting price levels of $320 and $340, supported by a key support/resistance flip. Meanwhile, Lunex Network has surged over 283% in its presale, aiming to create a non-custodial exchange platform for over 50,000 assets across 40+ blockchains, with significant growth in presale revenue.
Gold prices face potential decline below the $2,600 mark amid unease following the Fed's recent interest rate cut to 4.25-4.50%. Investor sentiment is dampened by uncertainty surrounding upcoming Trump policies and inflation trends, particularly as the PCE deflator data is anticipated. The market remains cautious as many investors have begun their holiday breaks.
IG
The Parliamentary Commission of Inquiry has released a detailed report on the emergency merger of Credit Suisse and UBS, attributing the crisis primarily to Credit Suisse's management. While the authorities' rapid response to stabilize the financial system is commended, the report calls for legal reforms to prevent future crises and emphasizes the need for enhanced monitoring and coordination among supervisory bodies to ensure the Swiss financial center's stability.
UBS has expressed support for most proposals from the Parliamentary Investigation Commission aimed at strengthening the financial sector, while differing on equity capital issues. The bank believes the collapse of Credit Suisse was due to strategic missteps and mismanagement, and emphasizes the need for regulatory adjustments to be targeted and internationally coordinated. UBS also highlighted its commitment to financial stability, having already set aside approximately $20 billion in additional capital following the acquisition of CS.
In November 2024, risk assets rebounded, with positive returns across various hedge fund strategies, particularly in Equity Hedged and Relative Value sectors. Macro and discretionary trading strategies also performed well, driven by favorable positions in rates and commodities, despite some mixed results in energy and metals. Overall, the market showed a constructive outlook following the US election, with significant performance dispersion among managers.
In November 2024, risk assets rebounded, with positive returns across various hedge fund strategies, particularly in Equity Hedged and Relative Value sectors. Macro and discretionary trading strategies also performed well, driven by favorable positions in rates and commodities, despite some mixed results in energy and metals. Overall, the market showed a constructive outlook following the US election, with significant performance dispersion among managers.
XRP's recent price fluctuations have been influenced by a 15% drop following a U.S. SEC appeal against Ripple Labs, creating uncertainty among investors. Despite this, analysts remain optimistic, predicting potential price surges due to increased adoption, including Wells Fargo's integration of XRP for payments and successful oil trades between India and UAE using the XRP Ledger. The cryptocurrency's utility in cross-border transactions positions it for significant future growth, with some forecasts suggesting it could reach values as high as $1,000 in the coming years.
US Bitcoin ETFs have faced their largest outflow since their inception, with $671.9 million withdrawn, breaking a 15-day streak of inflows. This significant outflow marks a notable shift in investor sentiment towards Bitcoin ETFs.
A parliamentary investigation has concluded that Credit Suisse is primarily responsible for its own collapse in spring 2023, citing significant financial mismanagement, including losses of 33.7 billion francs while paying out 39.8 billion francs in bonuses. The investigation also criticized the Financial Market Authority (FINMA) for ineffective supervision and inadequate communication between regulatory bodies. In March 2023, the troubled bank was sold to UBS in an emergency deal facilitated by government intervention.

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings