TheRealZed
Retired Sailor
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Well if that doesn't scream systemic risk I don't know what does. I wonder what the market will make of this. Id certainly be reducing exposure to these Banks.
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They are all getting bailed out not to the tune of 250k per account but every single penny.
ASX Gold Tribe +3.5% on the open this AM. Not on fire but solid given the lack of a US lead on ozzy Mondays.
They should have just let it explode long ago and we might be back to some type of normal by now.
I think they will avert bank runs this time but eventually this thing is done.
The gates are open and gold and silver are up, cryptos are sideways, S&P and crude are down early.... It will be interesting to see how the market reacts to all the smaller banks on Monday. ...
First Republic Bank led a decline in bank shares Monday that came even after regulators' extraordinary actions Sunday evening to backstop all depositors in failed Silicon Valley Bank and Signature Bank and offer additional funding to other troubled institutions.
San Francisco's First Republic shares lost 65% on Monday after declining 33% last week. PacWest Bancorp dropped 42%, and Western Alliance Bancorp lost more than 70% as regional bank stocks fell sharply. Zions Bancorporation shed 39%, while KeyCorp fell 23%. Other financial firms were also under pressure, as Bank of America slipped 6%, while Charles Schwab tumbled 18%.
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Investors flocked to safe-haven assets such as Treasurys and gold on Monday amid an extraordinary plan to backstop the banking system and limit the impact from the collapse of Silicon Valley Bank.
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Trading in shares of First Republic Bank and Western Alliance Bancorp. was paused after steep initial losses on Monday as bank solvency fears persisted following the failures of Silicon Valley Bank and Silvergate last week.
First Republic Bank’s FRC, -75.11% stock initially dropped 74% in morning trades after big losses late last week. The stock was paused for trading as of 10:21 Eastern time.
Western Alliance Bancorp’s WAL, -74.38% stock fell 83% after it resumed trades.
Regions Financial Corp. RF, -8.93% dropped 9.4%, Comerica Inc. CMA, -29.80% moved down by 46% and PacWest Bancorp PACW, -42.43% dove by 57%.
Customers Bancorp Inc. CUBI, -49.56% dropped by 67% and was paused for trading, while Metropolitan Bank Holding Corp. MCB, -48.71% fell 68% and was also paused. KeyCorp. KEY, -27.57% shed 38%.
...
Flash in the pan? Or will this move have more upside?
Silver looks like it's in the right area for a sustained move up. Gold is questionable.
Will the metals move down with the stock market if the general markets get smashed lower this week with banking fears? So many ways this could go...
Probably, because for the most part people have been totally dumbed down. The majority don't want independence. They just want to sit in their gaming chair and be supplied with hot pockets and sugary drinks.Flash in the pan? Or will this move have more upside?
Silver looks like it's in the right area for a sustained move up. Gold is questionable.
Will the metals move down with the stock market if the general markets get smashed lower this week with banking fears? So many ways this could go...
...
The consumer price index increased 0.4% for the month, putting the annual inflation rate at 6%, the Labor Department reported Tuesday. Both readings were exactly in line with Dow Jones estimates.
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Caught between a rock and a hard place. No hike and the tightening jawboning is seen for what it is. Rate hike and there is a very real possibility of some angry fear fueled market puking.Inflation gauge increased 0.4% in February, as expected and up 6% from a year ago
Excluding volatile food and energy prices, core CPI increased 0.5% in February and 5.5% on a 12-month basis.www.cnbc.com
Flip a coin as to whether the Fed raises 25 (market expectation) or 0 (Goldman expectation).
That's where I would put my money if I had any.+0.25% my prediction
Safety trade, as in risk off?It's early this morning and I see the dollar index surging. That's normally bad for gold (in dollars), but gold and silver are also breaking out to the upside. S&P & crude are both in the red and cryptos look to be going sideways.
It's early this morning and I see the dollar index surging. That's normally bad for gold (in dollars), but gold and silver are also breaking out to the upside. S&P & crude are both in the red and cryptos look to be going sideways.
Well, it looks as if the banking crisis is over and we can get back to our normal lives....
I suspect the action might be indicative of banking stress in Europe (Credit Suisse, et. al.), but that's pure internet armchair speculation. I'm not ass deep in a Bloomberg terminal analyzing market data on this.
~100 to 1... Sound like the ratio of paper claims to physical gold.FDIC has a little over 1.2 cents against every insured dollar on deposit. ...
That was my thinking on what might be happening. I was honored that you gave it some credence. I'm still tracking the idea. My retirement slow trade system would benefit from such an outcome.Checking in on that SPX - ABC call someone made back there (@dpong @Lancers32 ?)... sofa, sogood.
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