"Nowhere To Hide In CMBS": CRE Nuke Goes Off With Small Banks Accounting For 70% Of Commercial Real Estate Loans
What started as a spread widening episode in IG mezz in the week leading up to SVB’s collapse has infected AAA CMBS this past week regardless of format.
...and somehow these guys are expected to 'fix' FRC?
...are the 'bailouts' a dud?
"This Just Makes No Sense": European Regulators Rush To Calm AT1 Investors After Credit Suisse Wipeout Shock
"Shareholders should get zero” because “it’s crystal clear that AT1s are senior to stocks."
The Economist remains undefeated in its ability to top tick market trends!
...and contagion is not always fully logical: Credit Suisse’s tier 1 capital ratio was higher than DB’s.
"The current run of problems with banks presents Powell with his Volcker moment – carry through on the promise to pull growth below trend and move unemployment higher – or back away at the first time of trouble."
First Republic Bank Shares Crash To New Record Low, JPM's Dimon Reportedly Leading Another Rescue Effort
plan could involve the banks converting some or all of the $30 billion in deposits into a capital infusion
Banks are not the cause of a crisis. They are the symptoms of the accumulation of excessive risk throughout the economy...
Financial assistance is the Chekhov’s gun of banking: mention it and it is very likely that it will be used before the end of the play...
Potential jobs on the cutting block: "Amazon Web Services, human resources, advertising and the Twitch live streaming service groups."
"Many funds were long ‘the higher for longer’ trade via long European banks and short short-term bonds, which was very crowded. The recovery potential for banking stocks is limited as many investors are more cautious now."
It seems that the half-life on positive risk sentiment is troublingly short. Understandably so, trying to be neutral...
Recent company highlights include planning a reverse split and getting tossed from the S&P SmallCap 600 Index.
...a “strong wake-up call” to those who still believe that financial markets are not yet in a crisis...
...the rally in gold (balance sheet growth) and bitcoin (a massive anti-bank, anti-establishment sentiment) make sense.
"The turmoil still has at least a couple of days to play out, and only the Fed can come in and calm that"
Massive Layoffs On Deck At Credit Suisse, Which Tells Workers Bonuses Will Still Be Paid So Go To Work
"Let me be very specific on this: UBS intends to downsize Credit Suisse's investment banking..."
Today's Top Stories
Assistance and Requests: Click here
Advertising: Click here
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments