U.S., Europe in bank turbulence, triggering fears globally

STORY: U.S., Europe in bank turbulence, triggering fears globally DATELINE: March 19, 2023 LENGTH: 00:02:37 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of banks in U.S. and Europe 2. SOUNDBITE 1 (English): GIORGIO DI GIORGIO, Professor of macroeconomics and monetary policy at Rome's LUISS University 3. SOUNDBITE 2 (English): LARRY BENEDICT, CEO & founder of The Opportunistic Trader 4. SOUNDBITE 3 (English): BREDAN AHERN, Chief Investment Officer of U.S.-based asset management firm Krane Funds Advisors STORYLINE: U.S. financial markets have been quite volatile recently after the near-simultaneous collapse of Silicon Valley Bank, Silvergate Bank and Signature Bank challenged confidence in the financial system. The turmoil has sent shockwaves across the banking industry and caused the stock prices of European banks to plummet. The biggest victim so far was Credit Suisse. The second-largest Swiss banking group has secured an emergency loan from the country's central bank after its shares

U.S. analyst says Fed's aggressive rate hike hurts SVB

STORY: U.S. analyst says Fed's aggressive rate hike hurts SVB DATELINE: March 16, 2023 LENGTH: 00:01:33 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of the U.S. 2. SOUNDBITE 1(English): LARRY BENEDICT, CEO & founder of The Opportunistic Trader 3. various of the U.S. 4. SOUNDBITE 2(English): LARRY BENEDICT, CEO & founder of The Opportunistic Trader STORYLINE: A U.S. market analyst has recently said that the Federal Reserve's aggressive rate hike hurts Silicon Valley Bank (SVB), which collapsed last week. Larry Benedict, CEO and founder of The Opportunistic Trader, a U.S. market research firm, said this in an interview with Xinhua on Tuesday. SOUNDBITE 1(English): LARRY BENEDICT, CEO & founder of The Opportunistic Trader "And I feel like they (SVB) felt comfortable that rates were gonna stay low for an extended period of time, which they totally misread. And then obviously by the Fed raising really aggressively up to about 5 percent, that really hurt them, because they had loans out long