Business Lookahead: Let there be calm
STORY: From recession watch in the U.S., to the fallout from the UBS-Credit Suisse deal, these are the business and finance stories to watch out for in the coming days.
January saw the biggest rush into equities on record for the first month of the year - with investors loading up on cheap stocks as the economic outlook seemed on the up.
Fast-forward a few weeks and the picture is much different.
With a slew of crypto companies folding, U.S. regional bank stocks tanking, and more uncertainty for European banks, market volatility has been whipped into a 2008-style frenzy.
That could mean rates will peak faster than expected, as central banks are wary of a credit crunch.
Banks have gone on a wild ride, and the turmoil may not be over yet.
Swiss National Bank chief Thomas Jordan says the next two weeks will be vital to securing UBS's takeover of Credit Suisse.
Fed Chair Jerome Powell said banking stress could trigger a credit crunch with "significant" implications for a slowing U.S. economy.
And then there's a new challenge to grapple with -- social media rumors and fears stoking a bank run.
Prices of banks' AT1s bonds tumbled following the news that Credit Suisse's forced takeover by UBS involved $17 billion of Additional Tier 1 debt being wiped out.
Potential legal action is also possible after Swiss authorities ruled that holders of Credit Suisse AT1 bonds would get nothing in the deal.
March's reading of U.S. consumer confidence is due on Tuesday, timely for investors trying to weigh up whether the economy can prevent a downturn.
On Friday, the February personal consumption expenditure index will offer another look at inflation.
Incoming Bank of Japan Governor Kazuo Ueda will closely watch the latest Tokyo inflation data.
The release of Tokyo CPI on March 31st is likely to show inflation has topped the Bank of Japan's 2% target for a 10th straight month.
Ueda takes over in April with the weight of his predecessor's decade of massive stimulus on his shoulders.
Policymakers say the economic recovery remains fragile, giving Ueda even more reason for caution.
