<p><a target=“_blank“ href=“https://PiQSuite.com/Suite/reuters/2023:newsml_KBN2VQ04K“ target=“_blank“ rel=“nofollow“>As Reuters Reports: Global stocks were pressured on Friday and safe-haven buying supported government bonds as concerns about the stability of the banking system lingered.</a></p><p>Global stocks were pressured on Friday and safe-haven buying supported government bonds as concerns about the stability of the banking system lingered. </p><p>The STOXX sub-index of bank shares, which had rebounded from earlier falls this week following a forced weekend tie-up between Credit Suisse and UBS bought some stability, fell almost 3% in early trade. </p><p>Shares in Deutsche Bank tumbled after a sharp jump in its credit default swaps, which reflect the cost of insuring debt against the risk of default, the day before.</p><p>The moves highlight just how frail sentiment remains after turmoil in the U.S. and European banking sectors in the past two weeks have revived memories of the 2008 global financial crisis.</p>

This article was written by Ryan Paisey at www.forexlive.com.

<p><a target=“_blank“ href=“https://PiQSuite.com/Suite/reuters/2023:newsml_KBN2VQ0LJ“ target=“_blank“ rel=“nofollow“>The European Central Bank must continue to raise interest rates and should speed up the reduction of its balance sheet as rapid wage growth is putting upward pressure on an already high inflation rate, Bundesbank President Joachim Nagel said on Friday.</a></p><p>ECB’s Nagel is on the wires:</p><p>It is necessary to raise policy rates to sufficiently restrictive levels, the wind down should accelerate from Q3.</p><p>The recent wage deals are inconsistent with price stability and are to prolong the prevailing period of high inflation.</p><p>There are signs of second-round effects from <a target=“_blank“ href=“https://www.forexlive.com/terms/i/inflation/“ class=“terms__main-term“ id=“ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa“>inflation</a>-induced higher wage increases back to prices.</p><p>The labour market is to remain tight, labour shortages are obstacles to production.</p>

This article was written by Ryan Paisey at www.forexlive.com.