SVB collapse 'part of process' of tighter financial conditions - Morgan Stanley co-president
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LONDON, March 14 (Reuters) - The dramatic collapse of Silicon Valley Bank and widespread market turmoil in the subsequent days is "part of the process" of the world tightening financial conditions after years of cheap money, Morgan Stanley co-president Edward Pick said on Tuesday.
"This is part of the process of the knob being turned to tighten financial conditions to make sure that we are on our way to normalising a higher interest rate world," Pick said. "But there might well be surprises, there might well be reactions." (Reporting by Iain Withers and Lawrence White, editing by Sinead Cruise)
