, Columnist
Damage Done by the Banking Crisis Looks Overpriced
Central banks evidently believe they can contain the trouble without interfering with their goals on rates and inflation.
Has it really been a game-changer?
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
To get John Authers' newsletter delivered directly to your inbox, sign up here.
Three months ago, very few asset managers can have imagined that Silicon Valley Bank would change the direction of world markets (admittedly with help from Credit Suisse Group AG, which had long been a target of short sellers). But the bank, of which many outside the tech startup community had never heard, appears to have turned expectations on their head as the second quarter begins. Is this right?