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And for the most unsurprising news of the day, the holders of Credit Suisse AT1 bonds are miffed that they got wiped out while the stockholders did not.

https://archive.md/EUlE5

Normally bondholders come ahead of stockholders.

With a mouse click the Swiss regulator FinMa managed to throw shade on the entire $275 Billion market in AT1 bonds.

And they wonder why these shotgun weddings don't solve anything.

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founding
Mar 20, 2023Liked by Peter Nayland Kust

Yikes, just yikes.

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