We are digging into all of the data behind this new report.
The unrealized losses seem to go well beyond just bond markets.
Let us know if you'd like to see a Twitter thread explaining this situation in full detail.
Follow us @KobeissiLetter for more as this develops.
— The Kobeissi Letter (@KobeissiLetter) June 30, 2023
Bank reserves drop by $70B due to liquidity drain.
https://twitter.com/NorthmanTrader/status/1674522398526259203