The Swiss National Bank is financially backing the sale of troubled Credit Suisse to UBS, the two largest banks in Switzerland. The banks agreed on a price per share Sunday afternoon and Credit Suisse stated on their website the deal has been made.
The Banks of Canada, England, Japan, EU, Federal Reserve, and the Swiss National Bank announced late last evening a coordinated action to enhance liquidity of the U.S. Dollar for international trade and confidence.
Asian stocks opened this morning steady and US stock market futures opened higher.
The market expects the Federal Reserve to increase interest rates 25 basis points (¼%) this Wednesday. Behind that headline is the Federal Reserve has already moved to ease financial conditions aggressively by injecting $297 billion into the US economy last week.