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What a day!!


It’s a rough opening for Wall Street The fear and chaos caused by Signature Bank’s failure and SVB’s bankruptcy are overwhelming. Financials are suffering from weakness in banks and regional institutions, especially those that are smaller. The US100 It opened with a loss of -1.76%. US500 The US30 is down -1.10% and the US30 is down -0.70%. Not surprisingly there is a lot of jostling going on currently as investors digest the BTFP’s impacts. Volatility has caused many smaller bank shares to be halted. The President addressed the nation, trying to assure SVB/Signature depositors that they will be compensated and that this is not a taxpayer bailout. There is still a lot of uncertainty in the system.

To date, efforts to minimize the effects of the fallout in the UK as well as the USA have been unsuccessful.

European stock markets are trading at their lowest levels in a session. But the market was still sharply down today, as the SVB crises continues to rock markets despite attempts by officials to boost confidence in the financial system. The US FDIC said over the weekend it will resolve SVB in a way that “Fully protects all depositors” while the Fed announced a new “Bank Term Funding Program”.

The The Treasu in the UKHSCB bought through a deal between ry and BoE

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