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Anxiety Strikes $8 Trillion Mortgage-Debt Market After SVB Collapse: WSJMar 21, 2023 - 05:42:44 PDT
Investors fear other banks will sell mortgage-backed securities, pushing down prices.
The 11 Days of Turmoil That Brought Down Four Banks And Left a Fifth Teetering: BloombergMar 21, 2023 - 05:41:50 PDT
The speed with which four banks collapsed — and one continues to struggle — has left investors reeling. While the failures came in the span of just 11 days, the scenarios that brought them down were each unique.
Americans To Bear Burden Of Monetary System's Gradual Deterioration, Economist SaysMar 21, 2023 - 05:37:10 PDT
Ordinary Americans can expect their wealth to get repeatedly chipped away as the monetary system degrades and requires progressively more intervention by authorities to perpetuate itself, according to an influential author and economist. It may take “a very long time,” however, for the system to actually break, he told The Epoch Times.
"US officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis." Guess our March 12 tweet was ahead of its time yet again.
Days before a hastily convened press conference late on Sunday that would make the world's front pages, Switzerland's political elite were secretly preparing a move that would jolt the globe.
A stagnating zombie economy never recovers.
Well, based upon history and the analysis legacy left to us by Ralph Nelson Elliott, I think it is a strong probability that we will see a long-term bear market in the United States.
The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVB’s collapse,...
The national news cycle has careened from one extraordinary and alarming story to the next. The brewing crisis in banks remains front and center.
"Nowhere To Hide In CMBS": CRE Nuke Goes Off With Small Banks Accounting For 70% Of Commercial Real Estate LoansMar 21, 2023 - 05:24:24 PDT
Recently we warned that the office commercial real estate implosion is rapidly transforming into the Big Short 3.0 (see "Why Small Banks Are In Big Trouble: As Hedge Funds Pile Into The New "Big Short", The Next 'Credit Event' Emerges") one which would also have a devastating impact on small banks due to their outsized exposure to the sector (Goldman recently calculated that up...
Responding to bank failures in 1972 and 1984, the Federal Reserve pursued two very different paths, with very different consequences for inflation.
\Bond markets in some of the world’s most vulnerable economies are flashing default warnings as turmoil in the US and European banking systems makes it even tougher for emerging nations to borrow and repay debt.
UBS Group AG is more reliant for its capital on the type of risky bonds that were wiped out in the Credit Suisse Group AG takeover than any other major lender in Europe.
\From Washington to Zurich to London, central bankers need to make a pivotal decision in coming days: whether their biggest immediate fear is financial or price stability.
A systemic credit event has replaced stubborn inflation as the key risk to markets for increasingly pessimistic investors, according to Bank of America Corp.’s latest global survey of fund managers.\
Bank failures, market turmoil and ongoing economic uncertainty as central banks battle high inflation have increased the chances of a “Minsky moment,” according to JPMorgan Chase & Co.’s Marko Kolanovic.
After an incredibly volatile couple of days, stocks ended higher last week, with the S&P 500 rising 1.4%. The index is now up 2.0% year to date, up 9.5% from its October 12 closing low of 3,577.03, and down 18.3% from its January 3, 2022 closing high of 4,796.56.
“Bottom line is we still have an inflation problem, and the Fed needs to continue to raise rates,” Paul Gruenwald, chief economist at S&P Global Ratings, told Yahoo Finance. “So, they’ve obviously got one eye on the financial sector, but we still think they’re going to go 25 basis points later this week. But the language should be sort of softer and slower.”
With the banking crisis rolling alone, recession risk comes back into focus.
US stock futures and global markets rose Tuesday after coordinated action by the Federal Reserve and other leading central banks to keep dollars flowing around the financial system appears to have calmed nerves for now.