The panic had subsided. Yellen had confirmed Fed will guarantee deposits to prevent bank run. Time to do bargain hunting. If not sure just long indices. If wevgread carrfully wr csn trcovet l pur kissrs.
After a long negotiation over the weekend, financial markets were poised for relief on Monday after UBS Group AG (SIX:UBSG) agreed to buy Credit Suisse (SIX:CSGN) Group AG in a rescue orchestrated by the state, while major central banks announced a co-ordinated move to shore up liquidity in the financial system. - UBS agreed to buy its embattled rival Credit Suisse for 3 billion Swiss francs ($3.2 billion) Sunday. - The terms of the deal will see Credit Suisse shareholders receive 1 UBS share for every 22.48 Credit Suisse shares they hold. - The Swiss National Bank also pledged a loan of up to 100 billion Swiss francs ($108 billion) to support the takeover. UBS will buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) and agreed to assume up to $5.4