An Emerging Financial Crisis In 2023? A Primer on Old Metrics
Potential weaknesses in the financial system are augmented by social media and the gamification of financial markets. This article explores risks that have surfaced in prior financial crisis cases and potential strategies for mitigating exposures.
June 20, 2023 at 10:00 AM
8 minute read
Financial Services and BankingWith the failures of Silicon Valley Bank, Signature Bank and First Republic Bank, the wipe out of $17 billion in Credit Suisse additional tier 1 bonds, and the liability-driven investing crisis in the United Kingdom, all within the first half of 2023, U.S. Treasury officials and banking regulators have assured Americans that the financial system remains sound.
But one seasoned investor who predicted the 2007-2008 credit and financial crisis believes that more instability is ahead. "Other things will break, and who knows what they will be," Jeremy Grantham, the co-founder and chief investment strategist at asset management firm GMO told CNN in April 2023. "We're by no means finished with the stress to the financial system."
Other market observers are starting to pinpoint financial risk to certain market sectors. In mid-May, Moody's Analytics reported the first quarterly drop in commercial real estate prices in over a decade.
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