US construction in flux: Market assesses banking crisis, rising labor costs and a $1tn bill
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US construction in flux: Market assesses banking crisis, rising labor costs and a $1tn bill

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US construction market participants have warned that the collapse of Silicon Valley Bank (SVB) and Signature Bank – and the potential for contagion to other regional banks – could impact both the demand for insurance protection and the loss profile of the class.

So far, the effects of SVB and the forced sale of Credit Suisse to UBS have been contained. However, construction executives expressed concerns about potential effects of a deterioration of the banking sector on both commercial and residential projects,...

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