• The collapse of three US banks ((Silicon Valley Bank, Signature Bank und Silvergate) at the beginning of March triggered panic among investors, which made waves around the world.
• Investors sold risky assets and fled to safe havens such as government bonds and gold.
• In this environment, Credit Suisse suffered a massive loss in confidence among its investors and clients which led to its takeover by UBS.
• Central banks showed determination and, despite turbulence in the banking sector, raised their key interest rates to fight high inflation.

You can read about how we are positioning ourselves in this challenging environment in the current Baloise Market View.