Stan Chart echoes Deutsche Bank during GFC "roiled credit markets in Europe"

This is from Bloomberg, but seems to have otherwise escaped notice amidst the politics nonsense developments

• Standard Chartered Plc roiled credit markets in Europe on Tuesday, when the U.K. bank broke with convention by saying it wouldn"t buy back its junior bonds at the first opportunity.


• Notes plunged by a record 14 cents on the dollar to 83 cents, the lowest since 2012


• The move echoes Deutsche Bank AG"s decision during the financial crisis not to redeem its bonds, which shook investor assumptions about callable subordinated debt and made it more difficult to value the securities.

More detail at the article, here. Hmmmm. Coulda contributed to the overnight nervousness IMHO.

;-)

Stan Chart echoes Deutsche Bank during GFC "roiled credit markets in Europe"
Stan Chart echoes Deutsche Bank during GFC "roiled credit markets in Europe"
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