Independent thinking for complex markets and current events
via NYPOST: Bill Ackman in a tweet on Friday said Bank of America is going to acquire Signature Bank on Monday, without citing the source of the information. “I am hearing that @BankofAmerica is going to buy Signature Bank on Monday. Unless and until we can protect uninsured deposits, the cost of capital is going to rise for smaller banks …
by Dismal-Jellyfish It gets even more interesting! 1 year ago: 3/16: 18,073.5395 Billion. High was hit 4/13/2022: 18,130.6814 Billion. Over half a trillion in deposits pulled in the last year! Board of Governors of the Federal Reserve System (US), Deposits, All Commercial Banks [DPSACBW027SBOG], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DPSACBW027SBOG, March …
by recklessSPY The Fed was on track to keep raising rates to stop inflation. Unemployment still hot and retail still spending. No reason to abate – maintain rates. Some banks f’d up and didn’t hedge their interest rate risk. Runs on regional banks showed how fragile the system is. Fed comes in to plug what …
Top Chart: Over the past +50 years, the inversions of the 50 day SMA of the 10 year treasury rates minus the 50 day SMA of the 3 month treasury rates have all preceded the start of a U.S. recession (there have been no false indicators or exceptions to this rule). The 8 recessions …
“We need to keep raising rates until something breaks and inflation eases” <Something breaks> “Wait wait no, not that thing.” It’s very important that inflation is brought into check by poor people losing their jobs. Not rich people losing their deposits. NEW Banking Crisis In One Chart, Inflation=Fed Rate Hikes=Treasury/MBS Duration Increases=Bond Loss So, the Biden Administration …
Fed Loaned $160 Billion to Banks and $142 billion to FDIC. But QT-Related Roll-off Continued At around 4.75%, plus collateral, these are expensive loans for banks. The Fed’s Discount Window Soared to Its Highest Level Since the Previous Financial Crisis of 2008 Fed Dead Redemption! Flight To Safety As US Treasury 10-Year Yield Drops …
Total deposits across all banks are much higher now, $17.6t now vs $6.7t in 2008. https://wolfstreet.com/2023/03/16/fed-loaned-160-billion-to-banks-and-142-billion-to-fdic-but-qt-related-roll-off-continued/ In 2008 banks had trouble because they were holding lots of mortgages and MBSs and their value went down a lot, losing them ton of money, forcing liquidation. In 2022, old TBills value went down a lot due to …
The bond market is showing the most fear outside of the 2008 crisis. Equity and currency volatility are at much lower levels, while the MOVE gauge of Treasuries volatility is at its highest level since 2011. This suggests that investors are becoming increasingly worried about the possibility of a sharp rise in interest rates. h/t …
via justice.gov: Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, March 9, 2023 Former Wall Street Precious Metal Traders Sentenced for Wire Fraud Two former Wall Street traders were each sentenced today to one year and one day in prison for engaging in a multi-year fraud scheme to manipulate U.S. commodities markets …
I was gonna put some into the CD. 3.75 apr. Just today they pulled that offer from the website. This is not looking good folks. AC
🚨#BREAKING: Signature Bank, has been closed by State authorities. — R A W S A L E R T S (@rawsalerts) March 12, 2023 Regulators closed New York’s Signature Bank, citing systemic risk. Signature is one of the main banks to the cryptocurrency industry. As of Dec. 31, Signature had $110.4 billion in total assets …
Another Bank specializing in Tech loans and services for “High Net Worth Individuals”, but more of a Public bank than SVB was. The cashless society people really want that cash! https://twitter.com/_/status/1634783756656492544 https://twitter.com/_/status/1634790617627914240 View post on imgur.com Contagion has already spread. My local First Republic Bank was closed today (normally open), could not do wires or …
via benzinga: PacWest Bancorp shares are trading lower by 28.61% to $14.20 Friday morning. The stock is sharply lower as shares of several regional banks and financial institutions sell off on downward momentum after SVB Financial Group Wednesday announced a $1.25 billion common stock offering. SVB Financial Group was also halted during pre-market trading Friday …
by BoatSurfer600
As long as they can fill in more money they won’t have to take any losses. Ohh wait, what happened to SVB. Translate for Retails… Unrealized gains or losses on investment securities refer to the changes in the value of an investment that have not yet been realized through a sale or disposition of the …
SVB works with literally like half of all US VC-backed startups, and is similarly popular for their banking services in the UK and wider Europe. If they find they’ve lost any significant portion of their funding then we’re going to see a large wave of western start-ups wiped/ significantly hobbled by SVB collapsing. $42B WITHDRAWN …
via economist: Not long ago trading in American stock options was limited mainly to professional investors. Options are contracts that provide the right to buy or sell a security at a specified price over a fixed time period. They can deliver big payouts if a stock moves in the desired direction, and expire worthless otherwise. Sophisticated …
by Infamous_Sympathy_91
Your California Privacy Rights & Do Not Sell My Personal Information The California Consumer Privacy Act (CCPA), also known as AB-375, provides California residents with the following rights (the following is copied from leginfo.legislature.ca.gov/): The right of Californians to know what personal information is being collected about them; The right of Californians to know whether their …
Egg prices are exploding in the United States as the food supply chain crisis spirals out of control. A new Bloomberg report exposed that food costs are rising uncontrollably all across America, reaching the highest level since May 1979.A few years back, American consumers could actually fill up an entire shopping cart full of food …
Inflation is still not over yet, despite lower a lower CPI report, according to Nathan Lewis, editor of the Polaris Letter.
And it's not just Downpayments. Average Debt to Income Ratios today are comparable to mid-2000s. Meaning that homebuyer incomes, on average, are just as stretched in their ability to afford the mortgage payments. pic.twitter.com/3wIVJvidCS — Nick Gerli (@nickgerli1) August 14, 2022 But on average Mortgage Lending Standards are just as bad by the two most …
https://twitter.com/WallStreetSilv/status/1558940610421174272 Switzerland: The country's energy situation is serious and we have requested supplies from Germany and Italy. — The_Real_Fly (@The_Real_Fly) August 14, 2022 United Kingdom annual inflation June, 2020: 0.6% June, 2021: 2.5% June, 2022: 9.4% — The Spectator Index (@spectatorindex) August 14, 2022 Current Western energy policy https://t.co/9UwVIXCnuF — Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) …
View post on imgur.com https://nypost.com/2022/08/14/trump-calls-for-fbi-seized-documents-to-be-returned/ Former President Donald Trump on Sunday called for the Justice Department to return the reams of documents FBI agents seized at his Mar-a-Lago resort last week, pointing to a report that said the information was covered by attorney-client or executive privilege. “Oh great! It has just been learned that the …