Bailout, bailout bailout! Further backstops and liquidity for Credit Suisse as all roads lead to Bitcoin

Quick Take Credit Suisse shares plunged 24%, and its bonds traded at distressed levels. Credit Suisse may have reached a point of no return to hold its wealth management clients […]

Quick Take

Credit Suisse shares plunged 24%, and its bonds traded at distressed levels.
Credit Suisse may have reached a point of no return to hold its wealth management clients or fund its activities.
“Credit Suisse to get liquidity backstop if needed,” according to Bloomberg.
Credit Suisse borrows up to 50 billion CHF from the Swiss National Bank, equivalent to 6.25% of the Swiss GDP.

CDS Spreads: Source: Bloomberg)
Press Release: (Source: Credit Suisse)

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