News that the main investor in troubled bank Credit Suisse is not prepared to provide any fresh capital has exacerbated anxiety in European equity markets. Banking stocks have come under significant additional downside pressure. The Swiss bank has appealed to the SNB for a public show of support in an effort to stabilise its tumbling share price. The turmoil will add to speculation that previously anticipated monetary tightenings by the Federal Reserve, BoE and SNB may no longer be as aggressive as originally thought or, indeed, might not happen at all.

In the current nervous environment, the dollar is likely to benefit from fresh safe haven flows and U.S. Treasury yields post further declines.

Global-FYI tracks critical developments fon the global markets including political news, special central bank announcements, and substantial moves in the financial markets.

Major political events and special announcements by the global central banks can shift both the short-term and long-term outlooks for the global economy and financial markets.