11.3 C
New York
Thursday, March 23, 2023

Subscribe

Bank Bloodbathery Sparks Widespread ‘Risk Off’

First Silvergate, now Silicon Valley Bank, Signature Bank, and Silly old JPMorgan – all getting hammered lower for various financial and reputational reasons…

SIVB has lost over half its value amid heavy losses on startup investments

Signature bank is down over 10% on crypto fears…

And JPMorgan is dumping on Staley/Dimon headlines…

All of which is dragging Financials lower…

Smashing the major equity indices into the red…

The S&P busted back below its 50DMA and is heading towards the 100- and 200-DMA…

And bond yields tumble in a flight to safety. 10Y Yields are down 10bps….

2Y yields are down 19bps!

Bitcoin puked back down to $21,000…

Of course, all this will be reversed if we see a big miss on payrolls tomorrow.

And of note, we are seeing short-term rates drift notably dovishly…

Do STIRs know something about tomorrow’s NFP? As a reminder,┬áthe S&P 500 has had a standard deviation of some 1.51% on the day before payrolls.

This post was originally published on this site

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

159,055FansLike
405,005FollowersFollow
2,180SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x