Rates are now at their highest since 2007 in the US.
they also put pressure on banks as some government bonds, money lent by investors to a state, lose value.
Those higher interest rates were one of the factors behind the collapse of midsize regional lenders in the US, including Silicon Valley Bank, Signature Bank, and most recently,First Republic's demise became the second largest bank failure in US history. Markets are on edge after a sell off on Tuesday of US banking shares, a delayed reaction to the fall of First Republic.
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