Banks are some $2 trillion underwater with their bond portfolios

So now what? You don’t just lose Silicon Valley Bank, Signature Bank and Credit Suisse in a week without repercussions. 

More failures and quickie mergers are inevitable—banks are some $2 trillion underwater with their bond portfolios.

Stablecoin USDC had $3.3 billion deposited at SVB.

Last week saw February home prices down 0.2% year over year, the first drop in 11 years.

 By the way, the mortgage-debt market is $8 trillion. And $1.5 trillion in commercial real estate debt is due over the next three years. Work from home means future office vacancies, a ticking bomb.

Andy Kessler WSJ 26 March 2023

Things are looking better: no bank collapsed over the weekend,

SVB has a new owner, and even Deutsche Bank shares are trading higher.

MarketWatch 27 March 2023

The chair of the Federal Deposit Insurance Corporation reveals that 

the 10 largest deposit accounts at Silicon Valley Bank held a combined $13.3 billion, a detail that’s likely to intensify criticism of federal regulators’ intervention in the firm’s recent collapse.


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