This March has been a wild month in the world of finance. So far, three banks in the USA have collapsed, including Silicon Valley Bank, the 16th largest bank in the country with US$209 billion in assets at the end of 2022. Meanwhile, First Republic Bank, ranked 14th in America with US$212 billion in assets, has seen a 90% month-to-date decline in its share price. Over in Europe, the Swiss bank Credit Suisse, with a market capitalization of US$8.6 billion on the 17th, was forced by regulators to agree to be acquired by its national peer, UBS, for just over US$3 billion on the 19th. The issues plaguing the troubled banks have much to do with the sharp rise in interest rates seen in the USA and Europe that began in earnest in the third quarter of 2022. For context, the Federal Funds Rate – the key interest rate benchmark in the USA – rose from a target range of 1.5%-1.75% at...