Hold on to your hats. There will be a HUGE movement from small and midsize banks, into the systematically important banks (b of a, MS, JPM, Wells, Citi and Goldman) over the next few days/weeks. Record numbers in cash. Good for those banks, but NOT good for our banking system.…. Unreal to see the futures UP right now.
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Here's a different perspective. Some of you will have a shit fit. You were warned.
once you realize that ALL banks are instrumentalities of Congress
it all begins makes sense
in a sort of convoluted
obfuscatory
money laundering kinda way
Inflation numbers are in. Good news there as inflation rises at slowest rate since Sep 2021. But still high at 6%. Egg prices are down so maybe we won’t hear about the price of freaking eggs for the next month. Bank stocks rallied today. I thought that might happen but didn’t pull the trigger. PTSD from 2008 lingers. Buy when others panic. So it looks like rates are continuing to go up for the rest of this year. I hear banks are paying more for deposits, so that’s good
Regulators announced a plan to backstop depositors. Have no idea how this will play out but like you said futures are up which is surprising. Right now up 416 on the Dow 1.30%.