Standard Chartered’s Steve Brice on UBS’ Credit Suisse deal, imminent Fed rate hike & more
The UBS deal to buy out Credit Suisse for around $3.2 billion is a positive move for the banking sector as it removes a lot of uncertainty. The expectation is that the Fed will do a 25 bps rate hike this time around. Standard Chartered is still defensive in their portfolio allocations and are overweight bonds versus equities, investment grade bonds versus high yield bonds and Asia relative to the developed market.
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