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Lancers32 said:
They are all getting bailed out not to the tune of 250k per account but every single penny.
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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.
 
They been spinning these plates furiously for at least the last 20 years now. 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. Who knows how long this lasts but as long as we have as much fear in the market as we do now I doubt we see a crash. Sidelines seems like a good place to be now. No need to get trampled by the elephants there is always another opportunity down the road.
 
Lancers32 said:
They should have just let it explode long ago and we might be back to some type of normal by now.
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Yeah, well... it could have been just a bit of a recession, but nope... I thought 2008 would do it, but nope...

Lancers32 said:
I think they will avert bank runs this time but eventually this thing is done.
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It will be interesting to see how the market reacts to all the smaller banks on Monday. This might just trigger a general move to safety out of the smaller banks that could be enough to cause the issue they think they have avoided.

At this rate it all becomes systemically important and Joe Sixpack Insurance Co will have to pick up the tab for them all!
 
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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www.cnbc.com

First Republic drops 60%, leads decline in bank stocks despite government's backstop of SVB

First Republic Bank led a decline in bank shares Monday that came even after regulators' extraordinary actions Sunday evening.
www.cnbc.com www.cnbc.com

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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www.cnbc.com

Investors rush into bonds, gold in flight to safety after SVB rescue

Investors flocked to safe-haven assets amid an emergency plan to backstop the banking system and limit the impact from the collapse of Silicon Valley Bank.
www.cnbc.com www.cnbc.com

Cryptos now surging as of this post.
 
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%.
...
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More:

www.marketwatch.com

First Republic’s stock paused for trading as regional bank jitters persist despite Fed backstops

Lender to wealthy Silicon Valley customers First Republic Bank's stock takes a dive as regional banks remain in focus after the demise of SVB and Silvergate.
www.marketwatch.com www.marketwatch.com
 
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 ASX gold tribe kick off strongly this AM but we are fading into the end of the day. The hardened locals expect this to be kicked in the teeth before too long, can't have strong gold and weak banks... that will never do!
 
jelly said:
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...
Click to expand...

They will hose it down, any sustained move will come later. Can't have gold firing on all cylinders while the banks are in the news cycle for the wrong reasons.

2c

JMO etc.
 
jelly said:
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...
Click to expand...
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.
 
Cryptos are surging. BTC up to around 26K now - up roughly 30% for the week. I'd be keen to know what % of the flows into BTC are from America and what % is from the rest of the world (but I don't know where to find that kind of analysis).
 
...
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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www.cnbc.com

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 www.cnbc.com

Flip a coin as to whether the Fed raises 25 (market expectation) or 0 (Goldman expectation).
 
pmbug said:
www.cnbc.com

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 www.cnbc.com

Flip a coin as to whether the Fed raises 25 (market expectation) or 0 (Goldman expectation).
Click to expand...
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.

Should be interesting...🍿
 
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.
 
pmbug said:
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.
Click to expand...
Safety trade, as in risk off?
 
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.
 
pmbug said:
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.
Click to expand...

Shocking..
 
Goldhedge said:
Well, it looks as if the banking crisis is over and we can get back to our normal lives....
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Well after the close today they have "Declared" CS solvent. So yeah, go back to sleep my sheep.

finance.yahoo.com

Credit Suisse Declared Solvent, Central Bank Pledges Backing

Credit Suisse stock fell to all-time lows Wednesday, dragging European, U.S. banks lower. Credit Suisse's largest backer denied assistance.
finance.yahoo.com finance.yahoo.com

I think this might help for about 4 hours.
 
pmbug said:
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.
Click to expand...

Yes...

This is what will drive gold.

There system is weaker than yours, a CS failure would be huge, that will drive a certain % of money into gold because trust in the USA has been damage by Biden Inc's response to all things Russian. A % of the big money in Europe will seek alternates in sufficient volume to lift all alternate capital destinations to the US system. Given gold's market size it should be enough to make a reasonable rally.

The US will not want to see gold move as an alternate to the USD and it will be fough. In this respect, I think that Joe has created a monster they can't control, we will see.

2c

JMO
etc.
 
AUD Gold in virgin territory yet the gold stocks are lagging, hmmmm....

XAUAUD_2023-03-16_10-33-04.png
 
VIX hitting the rev limiter, flirting with the "phucked bucket"...

VIX_2023-03-16_10-43-07.png
 
Zed said:
There system is weaker than yours,
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Their... {sigh}

GDX lagging gold...

GDX_2023-03-16_10-48-51.png


Normally a bad sign but could be an artifact of OS money driving gold. Not something any of us are used to....

This time it's different... words to worry about!
 
Hedgeye headline - McCullough: If Powell Raises Rates, Look Out Below

 
Top YouTube comment IMO.

FDIC has a little over 1.2 cents against every insured dollar on deposit. Shit storm contained? You gotta be
😂
🤣

kidding me ...

🙄
🤯
🤕
🤬
 
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