Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
I'm guessing that the next raise will be .25%, but likely not this week. That would be incredibly poor timing, with a deaf ear to the marketplace reality (warranted or not.)
ECB did .50 the other day, despite the CS issues over there. IMO the fed's …
Feels more like a shotgun marriage done at fire-sale prices, like what JPM paid for Bear Stearns back in '08 ... though not quite at prices comparable to a hot-dog as it would've been at $1B.
”First Republic’s stock is down more than 80 percent for the year, and other regional banks like Pacific Western and Western Alliance have lost more than half their values.”
Remind me never to invest in banks!
I never have and never will!
Per CNBC: "Treasury Secretary Janet Yellen told senators that government refunds of uninsured deposits will not be extended to every bank that fails, only those that pose systemic risk to the financial system."
I think that's the right approach to…
Gut observation here, but this week things have not all completely marched in 100% lockstep like they did in '08. There are some pockets of green and/or counter-trending moves happening that kind of makes this more orderly.
Had the government not…
Anybody buying Credit Suisse ADRs (CS) now that the Swiss National Bank said they would backstop them?
Pennies in front of a steamroller but you could probably make a few bucks in the next week!
Nah, I can think of more productive and profitable wa…
Now in addition to CPI we have “core CPI” and a new one to me, Super Core CPI ( excludes housing)
The latter is increasing, held down only by falling used vehicle prices. But the wholesale used vehicle prices are rising so it looks unlikely Super…
Seems the appetite for schadenfreude will not be satisfied until more people in Silicon Valley lose their jobs, and firms go under because founderss of startups deposited their money where the VC angels told them to.
Are they all libertarians? Who…
The Forbes 30 under 30 issue has featured the following on its cover: Elizabeth Holmes, Samuel Bankman-Fried, Adam Neumann. A real rogues’ gallery of how not to run a company.
Those lists are almost always a whos-who of popularity in the media and/o…
I think SJIM is probably a very good investment. Haven't there been several studies that have demonstrated Cramer's recs are almost always loosers
SJIM is +1.80 over the past 5 days, per SeekingAlpha....
And Forbes? They're just cheap clickbait se…
Reminder to ignore most public market prognostications from most 'big names' in finance:
Friday: Bill QUACKman makes headlines saying many banks are going to go under, gloom and doom, etc etc.
Monday: Bill QUACKman says there are 'incredible barga…
Friday: Bill QUACKman makes headlines saying many banks are going to go under, gloom and doom, etc etc.
Monday: Bill QUACKman says there are 'incredible bargains' in the banking sector, but Bloomberg notes that "the Pershing Square CEO said Monda…
Yeah I'm selling my Schwab MMF today because of this. Does anyone know if I can sell a MMF and also move the cash into treasuries the same day? or do I need to wait a day. I'm worried about protecting my cash. thanks.
IIRC selling most Schwab MMF…
IIRC cash in a brokerage sweep account is protected up to 250K via FDIC or SIPC coverage, right?
That said I wouldn't fault people for moving large chunks of cash from a Schwab sweep or MMF into treasuries or treasury-ETFs at the moment.
@yogibullbear -- that was my reaction when I woke up. Total reversal and then some from when I went to sleep last night.
POTUS' remarks won't help much; he sounded very reminiscent of W during the GFC.
fwiw saying BBG just said the 2-year hasn't …
https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html
and now signature bank. "Crypto-focused." When will the idiots in charge of everything finally wake up and PROHIBIT crypto??? Shit.
First Genesis (…
You think maybe Wells Fargo laid off the guys who just said to "buy Signature Bank, New York", which was closed today by its state chartering authority?
Nah, probably not.
"We stand by our analysts, because they're here precisely to make an OPINI…
The rapid rise of interest rates (to combat inflation) coupled with bank risk practices not adapting to the new reality shows that "the Fed broke the economy without realizing it."
- Garfield Reynolds on BBG.
US index futures opening higher at the Asian open 1800 NYC time....hopium?
EDIT: Probably, not looking like the green open will hold for long.
EDIT AGAIN: Up again on rescue news, so .... *makes popcorn*
BBG: "Dick Bove at Odeon Capital Group LLC notes “that reduction in bank deposits and the sharp negative reaction in the financial markets to the SVB developments suggest a deeper discontent with the banking industry’s treatment of their clients an…
Per BBG .... FED: The Federal Reserve is considering easing the terms of banks’ access to its discount window, giving firms a way to turn assets that have lost value into cash without the kind of losses that toppled SVB Financial Group, write Bloom…
Per WaPo just now:
"Federal authorities are seriously considering safeguarding all uninsured deposits at Silicon Valley Bank, weighing an extraordinary intervention to prevent what they fear would be a panic in the U.S. financial system, according …
After 5 pm, CST for FINVIZ , and for Global Indices, as their markets open around the globe.
Oh, darn it and I gave Bill Ray Valentine Friday off. (context FINVIZ 12:25PM PDT, I think)
That's okay, and while Randolph is in the hospital, Mortimer…
FWIW saying ... perfect timing....
"Fortunately, Silicon Valley Bank’s resolution plan is still fresh. The bank became large enough in 2021 that regulators required it to draw up a “living will” on a three-yearly cycle. Silicon Valley Bank submitt…
For shorter term cash needs I was advised to put it into an FDIC insured bank deposit account. This should be insured up to 250K. I need to call Schwab tomorrow but I believe you can do this at Schwab. .... Joe and RForno I am curious— are you …
@Old_Joe or @rforno Are these automatic rolls or do "you" roll them ?
Depends. If you buy them at auction. Schwab will let you auto-roll them so it's a frictionless process. If not, you have to do it manually, because .... it's Schwab.
Contagion is spreading.....next week's going to be intersting....
SVB Fallout Spreads Around World From London to Singapore
https://www.bloomberg.com/news/articles/2023-03-11/svb-fallout-spreads-around-the-world-as-uk-firms-plea-for-help?srnd=prem…
Thanks for starting this thread. Does anyone else have concerns about Schwab’s prime money market fund SWVXX? While I am no expert presumably their government and treasury MM funds have a higher degree of safety. Unless the Republican Party defau…
Bloomberg's analysis is pretty good, though I hate that they constantly quote Summers. Their TV news is far and above better than CNBC and more analytical than sensational. (I pay for Bloomberg now that their rates are more reasonable.)
I pay fo…
USDC (US Dollar Coin, a so-called 'stablecoin') broke its $1 peg and is now trading around 90c b/c of concerns over SVC and the USDC reserves that were there.
Buckle up, folks...