Cheap Oil Is Fueling Economic Development In Asia

The collapse of Silicon Valley Bank and Signature Bank shook up the U.S. banking system, possibly more strongly than news reports and government officials made it sound. A run on banks was barely avoided, and far from everyone believed Treasury Secretary Janet Yellen when she said the system was safe and sound. And oil prices took a dive. Fears of more trouble in the U.S. banking sector—and in the European one, after UBS had to take over Credit Suisse to save it—are still gripping markets. Reinforcing expectations of an economic slowdown,…