First Republic auction underway. Deal seen before markets reopen
The US FDIC is holding a auction of the assets of First Republic Bank this weekend, according to a Reuters report. There are roughly six bidders for the assets, including a bid from JPMorgan.
The report says bidders were asked for non-binding bids Friday and will be studying FRC's books over the weekend.
A deal is expected before Asian markets open.
In all likelihood a wind down of the bank will allow markets to move on but there's also the risk that it sparks fears elsewhere or triggers trouble at another bank.
This article was written by Adam Button at www.forexlive.com.from Forexlive RSS Breaking News Feed https://ift.tt/NYwxLsb
Analytic Dave
AnalyticalDave is a personal financial analysis portfolio that captures my Derivatives trading, stock, and investing journey. My portfolio does NOT act as a financial advisor to any community. It is only purposed for journaling my story as a self-taught trader and investor.
