The hidden dangers of the turnaround in interest rates

• With the collapse of the Silicon Valley Bank last weekend, fears of a banking crisis have returned. Bank customers were rescued by the US government.
• With Credit Suisse’s call for help to the Swiss central bank on Wednesday evening, the banking crisis reached Europe. Numerous other bank stocks also lost massively in value.
• The banks are not the only sector suffering from the interest rate turnaround by the central banks: the real estate market, the tech industry and national budgets are also in trouble. US economist Kenneth Rogoff sees the world heading for a crisis.

Perhaps her suit should signal that the signs on the financial markets are alarming and that she has understood that. In any case, Christine Lagarde, President of the European Central Bank (ECB), chose an extraordinarily conspicuous alarm red as the color of her clothes this Thursday when she appeared before the media in Frankfurt.