Published March 17th 2023

Daily Brief - 🌩️ Swiss Super Mario

TLDR: In a statement issued yesterday, the Swiss National Bank gave its own version of “whatever it takes” and issued a line of credit to CS. Crisis averted for today.

credit suisse

The SNB issued the following statement yesterday:

The Swiss National Bank SNB and the Swiss Financial Market Supervisory Authority FINMA assert that the problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets. The strict capital and liquidity requirements applicable to Swiss financial institutions ensure their stability. Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks. If necessary, the SNB will provide CS with liquidity.”

Now the issues at CS are diverse. There’s a liquidity crunch and there's the refusal of its main shareholder to provide additional equity.

Whichever way things might go, this will provide a moment of brief relief to the bank.

Read more on FTAV.

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TOGGLE Leading Indicators: Three indicators in bullish territory - but watch out for the newsflow

As mentioned yesterday, three indicators are in bullish territory, two more to go. However the newsfeed is really bad.

This feels like a good entry point in the making, but BEWARE of the Fed next week.

  • 🟦TLI
  • ⬜ Rangefinder Index
  • ⬜ Peak Probability Indicator
  • 🟦 Valley Probability Indicator
  • 🟦 Candle Breadth
  • ⬜ Market Phase Shift Indicator

Learn more about the Leading Indicators in the Learn Center!

rangefinder 031623

Upcoming Earnings: XPeng releases tomorrow


Click here to test what to expect when XPEV releases earnings tomorrow.

Discover how other companies could react post earnings with the help of TOGGLE's WhatIF Earnings tool.

Asset Spotlight: Stryker at a Resistance Level

TOGGLE analyzed 6 similar occasions in the past where price level indicators for Stryker are close to a recent high and historically this led to a median decrease in the stock price over the following 1M. Check it out!


General Interest: A creative ‘financial prisoner exchange’

prisoner exchange

In a bout of creative financial planning Raiffeisen Bank is ‘seeking to exchange €400mn worth of profits trapped in Russia against Sberbank’s frozen cash in Europe’.

The Austrian bank is trying to build the case that no money would cross the border, and no payments would be made to a sanctioned entity.

But the reality is that this maneuver would allow Sberbank to gain access to funds frozen under recent sanctions.

The plan requires the approval of regulators in Washington, Brussels and Moscow. Good luck with that.

Read more here on the FT ($).

Daily Brief - 🌩️ Swiss Super Mario

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