after banking shares saw sharp falls on monday. the sell off continued in asia with japan s largest banks also seeing heavy losses. shares of mufg, miz uho and smfg were all down around 8% in trading. the nikkei exchange was down over 2% overall. here in europe, we ve seen credit suisse drop another 5% in early trading. on monday, major us banks lost around %90 billion in stock market value, bringing their loss since svb s collapse to nearly $190 billion. many are now speculating the federal reserve will pause its plans to keep raising interest rates, designed to tame inflation. we re nowjoined by greg swenson, who s an international investment banker, founding partner at brigg macadam. talk to me about the perception of rate rises being not only part of the cause of this but also now the federal reserve having a rethink about what it does for the cost of borrowing given what we have seen in the banking sector. great borrowing given what we have seen in the banking sector. t
about what it does for the cost of borrowing given what we have seen in the banking sector. great borrowing given what we have seen in the banking sector. the banking sector. great question. we saw speculation the banking sector. great question. we saw speculation in the banking sector. great question. we saw speculation in the - the banking sector. great question. we saw speculation in the markets| we saw speculation in the markets yesterday and there is a report from goldman suggesting they would not tighten at the meeting in a few weeks but the challenges, after the cpi print today, you have already seen the market pricing in a 25% basis increase, a likelihood of 85% probability, so i am not sure that they are going to have, i don t think they can turn around at this point, it is clear powell is dedicated to indicating that the rates will be higher for longer and even though there is a speed bump with the crisis over the weekend, the cpi print is indicating that 0k, they are no