SVB Bonds Rise in Rare Sunday Session Despite ‘Wipe Out’ Warning

As US government officials pledged to fully protect all depositors of the failed Silicon Valley Bank, they had a specific message for investors in the bonds and shares of the bank’s holding company.

They’ll be ‘wiped out,” a senior Treasury official said in a call with reporters late Sunday.

That message hadn’t gotten out to bond trading desks across Wall Street, where in a rare Sunday session, bonds were being quoted at prices that were higher than where they changed hands on Friday, according to people with knowledge of activity in the market.

At least a handful of dealers were ...