Bailout, bailout bailout! Further backstops and liquidity for Credit Suisse as all roads lead to Bitcoin

Quick Take

• Credit Suisse shares plunged 24%, and its bonds traded at distressed levels.
• Credit Suisse may have reached a point of no return to hold its wealth management clients or fund its activities.
• “Credit Suisse to get liquidity backstop if needed,” according to Bloomberg.
• Credit Suisse borrows up to 50 billion CHF from the Swiss National Bank, equivalent to 6.25% of the Swiss GDP.

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