The Second-Largest Bank Collapse in U.S. History

“I think this could be the first cockroach in the cellar.”

Frederic Russell, CEO of Frederic E. Russell Investment Management Co., on the collapse of Silicon Valley Bank (SVB) – the second-largest banking collapse in U.S. history. Our cheat sheet below covers what to know and why it matters. Jenna also breaks it down in this video. 👇  

🗓 THE WEEK AHEAD

Monday: President Biden meets with the prime ministers of Britain and Australia, Rishi Sunak and Anthony Albanese to discuss the AUKUS plan, which gives Australia nuclear-powered submarines in order to counter China. Meanwhile, China wraps up their legislative congress. This year’s gathering highlights the changing political landscape of China, particularly as Chinese Pres. Xi has “narrowed the scope of the private sector and placed the party—and himself—at the center of Chinese society.”