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)
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