J.P. Morgan, Morgan Stanley, and others are in talks to bolster the first Republican bank. Shares of the bank reached a low of $19.80 earlier today. That was just above the low price seen on Monday at $17.56. The current price is trading at $22.81 after a spike higher took the price back to $25.98. The close price yesterday was at $31.29.
The bank is still on shaky grounds as fears of a bank run by depositors.
After the sharp decline on Monday, the price spike higher to a high price of $50.91 on Tuesday the price was as high as $147.56 back on February 2.
First Republic Bank
Meanwhile, the overall market remains positive:
- NASDAQ index is up 127 points or 1.11%
- S&P index is up 27.4 points or 0.71%
- Dow Industrial Average is up 62 points or 0.20%
in the US debt market, yields are now mixed:
- 2 year yield is back above 4% at 4.01%, up 3.8 basis points
- 5 year yield is down -3.6 basis points at 3.547%
- 10 year yield is down -7.1 basis points at 3.423%
- 30 year yield is down -8.7 basis points at 3.600%