Hartnett: Commercial Real Estate Is The Next Shoe To Drop

Having correctly predicted that the current hiking cycle culminates with a credit event, one which has just claimed at least 3 small US banks and sparked a historic wave of deposit bank runs, and which will cripple US regional bank lending for years to come…

Feb 18: Hartnett: "Fed Will Tighten Untill Something Breaks... And Stocks Will Swoon To 3,800 By March 8"

off by 2 dayshttps://t.co/Aj3JWhcwjo

— zerohedge (@zerohedge) March 13, 2023

… one question BofA Chief Investment Officer Michael Hartnett poses in his latest Flow Show note (available to professional subs) is where does all the cash from the relentless bank runs (which according to JPM has amounted to $550BN since the collapse of SVB) end up, and the answer is that while some of it has gone to big banks as we first predicted two weeks ago and as we just confirmed late on Friday...