Investors in U.S. stocks appear to be playing down the risks of sharply higher interest rates for the banking system and economy, despite the past two months ushering in three of the four largest bank failures in American history, according to the Wells Fargo Investment Institute.
Following its takeover by regulators, most of First Republic Bank’s FRC assets were auctioned off early Monday to JP Morgan Chase & Co. JPM, marking the third, large regional U.S. bank to fail since mid-March.
“Rising…
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