About Credit Suisse and the banking sector of course caused a stir. Credit Suisse, as one of the largest banks in Europe, is facing several serious challenges affecting the European banking sector as a whole. Bank bonds and CDS took a hit, which is not good news for anyone, as this has international implications.

The current situation is very worrying. Delays in issuing annual reports and announcements of internal control weaknesses have so eroded confidence in banks that shareholders are hesitant to give away more money, and people have been withdrawing their funds from banks for the last three months.

This implies that more people are moving away from banks and investing in more stable assets, which increases bank risk and the best decision at this point is to wait and see how things unfold.