FRC and EUL’s value actions underscores how buyers’ perceptions of market occasions might be extra influential than the precise occasions themselves. First Republic has not defaulted, gone bancrupt or been seized by the federal government; actually, it raised $70 billion over the weekend to shore up its liquidity. In the meantime, Euler has misplaced a whole bunch of hundreds of thousands of {dollars} that it has little hope of getting again. But merchants punished FRC shares extra severely.
