LONDON, SYDNEY—Europe’s bank shares suffered their biggest fall in over a year and bond markets saw a gigantic repricing of rate hike bets on Monday as global efforts to limit the fallout from the collapse of Silicon Valley Bank (SVB) failed to ease fears.
The dollar slid too as Wall Street heavyweights such as Goldman Sachs predicted the U.S. Federal Reserve would no longer lift interest rates next week, capping the biggest three-day rally for short-dated Treasuries since 1987.
Europe’s bank index tanked 6 percent having shed 3.8 percent on Friday. HSBC’s London listed dropped 1.45 percent after it said it would acquire the UK subsidiary of stricken Silicon Valley Bank for the token amount of 1 pound ($1.21)….