U.S. Treasury yields came
off six-month lows reached earlier on Friday but remained lower
on the day as concerns about further stress in the banking
sector led investors to seek out the safe haven debt.
Bank concerns turned to European giants Deutsche Bank and
UBS on Friday as investors worried that regulators and central
banks have not yet contained the worst shock to the
The Canadian dollar
weakened to a nine-day low against its U.S. counterpart on
Friday before recouping much of its decline, as investors
weighed global banking sector stress and data showing some major
sectors of Canada's economy weakening in February.
UniCredit is leaning towards
repaying a perpetual bond at the earliest opportunity in June, a
source close to the matter told Reuters, a move that would show
it has ample capital and help keep funding costs in check as
markets reel from a crisis of confidence.
Partisan sniping over
raising U.S. borrowing authority ratcheted up on Friday when
House of Representatives Speaker Kevin McCarthy accused
President Joe Biden of ignoring the issue, even as Republicans
have failed to detail budget cuts they want before allowing a
debt limit increase.
markets swooned on Friday as fears about contagion among banks
hobbled shares in lenders such as Deutsche Bank, with
the flight from risk shoring up the dollar and driving bond
Shares in French retailer
Casino slumped by just over 16% on Friday, in their worst day on
record, after rating agency Moody's cut its long-term debt
rating further into junk territory, citing market share losses,
weak liquidity and high debt.