Twitter influencers’ conversations around Credit Suisse Group AG (Credit Suisse) and Deutsche Bank AG (DB) have spiked up in the first week of October, after the speculation-mongering on the financial default of these global banks, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.

Credit Suisse’s share price continue to trade lower in the beginning of October, despite the assurance of financial health and liquidity of the bank by Ulrich Koerner, CEO of the Swiss banking giant as the market reacted to the 14-year high of Credit Default Swap (CDS). At the same time, turmoil deepens for DB, the biggest German bank as it also suffers from the distressed valuation and high CDS.

Smitarani Tripathy, Social Media Analyst at GlobalData, comments: “Twitter influencers have raised the concern of another global banking crisis as 2008,  which could be triggered by the default of these banks, but on a contrary, a few influencers also say that the huge asset base of these Global Systemically Important Banks may hold back these banks from being a failure.”

Below are a few of the most popular influencer opinions captured by GlobalData’s Social Media Analytics Platform:

1. Anirudh Sethi, a Global Financial Analyst, says if the speculation on default of Credit Suisse and DB turned true it can lead to the Lehman movement.
2. Alistair Milne, Professor of Financial Economics at Loughborough School of Business and Economics is concerned on the arrival of a new financial crisis as the share prices of both banks are already trading below the 2008 level.
3. Aditya Shah opined that the European economy may land hard with the rising risk of insolvency of the top banks, as the CDS of Credit Suisse has recorded high.
4. Abhishek, an individual Financial Market analyst, has advised the traders to stay focused on the market without being panic as stock the market has already discounted the speculation.
5. Aziz Gilani, VC at Mercury Fund has opined that if any of these two banks collapse, it would be catastrophic for the European economy.
6. Tuur Demeester, Editor in Chief at Adamant Research, has said that the failure of Credit Suisse would be a contagion for the markets.