Per WaPo just now:
"Federal authorities are seriously considering safeguarding all uninsured deposits at Silicon Valley Bank, weighing an extraordinary intervention to prevent what they fear would be a panic in the U.S. financial system, according to three people with knowledge of the matter, who spoke on the condition of anonymity to describe private deliberations.
Officials at the Treasury Department, Federal Reserve, and Federal Deposit Insurance Corporation discussed the idea this weekend, the people said, with only hours to go before financial markets opened in Asia. White House officials have also studied the idea, per two separate people familiar with those discussions
The plan would be among the potential policy responses if the government is unable to find a buyer for the failed bank. The FDIC began an auction process for SVB on Saturday and hoped to identify a winning bidder Sunday afternoon, with final bids expected by 2 p.m. ET, according to two people familiar with the matter."
... let's see. Asian markets and futures open in a little over 2 hours' time, so presumably there will be some type of announcement beforehand...?
More @ https://www.cnbc.com/2023/03/12/fed-fdic-discussing-backstop-to-make-svb-depositors-whole-and-stem-contagion-fears-source.html

@LewisBraham
Why did you jump subjects? Local news never did longform journalism of the sort we're discussing, at least not small papers, even in their postwar heyday (to the 1990s or a bit before). Newsday maybe, if we call that 'local'.
Roger about their demise and vulture-capital evisceration, sometimes in that order. It's horrible. J-prof Dan Kennedy is an expert and historian in the field (also a successor to me at an alt-weekly looooong ago):
https://www.bostonglobe.com/2023/02/10/opinion/local-news-startups-are-overcoming-evils-corporate-chain-ownership/
@linter, I don't know if you are involved in any way, but RS sure as hell has stepped up its investigative / political / digging game the last year or three. A real surprise.
Your work on your great-aunt makes me think you might be at least a little interested in my slightly similar initiative (filmable bio-novel is the goal) of this grandfather:
https://davidrmoran.wordpress.com/
+++
As I type, PK has just tweeted a smart succinct summary of SVB, 8 parts thus far, comparing it w Madoff affinity fraud in the crypto-bogo era:
https://twitter.com/paulkrugman/status/1634908696806592518

After 5 pm, CST for FINVIZ , and for Global Indices, as their markets open around the globe.

Oh, darn it and I gave Bill Ray Valentine Friday off. (context FINVIZ 12:25PM PDT, I think)

That's okay, and while Randolph is in the hospital, Mortimer is still around to turn the machines back on....

After 5 pm, CST for FINVIZ , and for Global Indices, as their markets open around the globe.

Oh, darn it and I gave Bill Ray Valentine Friday off. (context FINVIZ 12:25PM PDT, I think)

Agreed! At any rate, I'm not making any deliberate moves to add to my foreign exposure in stocks or bonds. Foreign equity exposure for me has stood at 9% of total for quite some time. EM is negligible, according to Morningstar X-Ray. And no EM bonds. I keep tracking AGEPX but won't buy unless something drastic happens. I'm happy to remain domestic with my bonds, all junk, except what may be in PRWCX. I can get fat yield while remaining domestic. Yes, total return is the goal. I bought at the wrong time. I'm riding it out, collecting and reinvesting dividends every month. I figure I'll stand pat for a long time in those junk funds. I also just started a position for wifey in SCHP TIPs of varying durations. That's her small but slowly growing pick-em-up truck fund, for our other home in Asia. Give us a decade or more and we might actually have enough in there for a pickup purchase! And les I forget: PRTXX (Treasuries, MM) is offering lovely returns lately, at low to zero risk: 4.31%.

That is why I like to look at several sources to confirm the data is accurate.
Additional, this "futures" topic is being posed in @Catch22 posting.
https://mutualfundobserver.com/discuss/discussion/60788/only-for-the-sake-of-peeking-ahead-sunday-march-12-if-you-re-curious#latest

Thanks @Crash
March 11 - 23
Uncanny timing …

blackout, yes @hank. March 11-23.
https://www.bostonfed.org/contact-us/request-a-speaker.aspx

Btcusd mirror qqq +1.7% over weekend

Hmmm, I always thought what yogi said is true. the cnn link you show says:
Last updated Mar 10 at 4:59 PM ET

https://markets.businessinsider.com/news/stocks/jeremy-grantham-stock-market-bubble-fed-horror-show-interest-rates-2023-3
Business News
Veteran investor Jeremy Grantham says the stock bubble is still deflating and the market will go down in 2024 amid a ‘horror show’ from the Fed.
by Alma Winkle March 10, 2023
Veteran investor Jeremy Grantham says the stock bubble is still deflating and the market will go down in 2024 amid a ‘horror show’ from the Fed.
Jeremy Grantham said that the stock bubble is still in the process of deflating and the market will not bottom out until 2024.
The veteran investor blasted the Fed’s monetary policy as a 36-year-long “horror show.”
He predicted mild pain for investors in the coming year, while warning of a downturn in equities around April.
The stock market bubble is still in the process of deflating, according to veteran investor Jeremy Grantham, and equities will finally bottom out in late 2024 amid the Federal Reserve’s “horror show” of monetary policy.
In a recent interview on Bloomberg’s What Goes Up podcast, the GMO co-founder reiterated his view that stocks were in a speculative bubble and about to pop, thanks to the end of ultra-low interest rates and ample liquidity in the market. Thanks for those who brought the stock. For circling high during the pandemic.
Grantham also blasted the Fed’s monetary policy in the years since former Alan Greenspan took over as central bank chairman in 1987, calling its effects on the US economy a 36-year-long “horror show”, which has recently Helped build immense wealth over the years. ,
No end in sights until 2024, maybe 17% more downturn
so much pain ahead...

After 5 pm, CST for FINVIZ , and for Global Indices, as their markets open around the globe.
ADD: Popular Global ETF's

UK branch of SVB and UAE Royals considering purchase ???

A very non scientific measure is how the normally non reactive, stay the course Bogelheads are reacting. On a day when the markets are down big time no Bogelhead would think of posting anything about it. They know that they would be blasted by the “stay the course
“ group think. But since Thursday night at 11;40pm the “Silicon Valley Bank fails” thread now has 564 posts. I would say that the fear meter is redlined.

Future market for next week looks bad -1%.
Glad to see you have a good % cash position so you have wait for things to settle down. Defensive positions held up in addition to consumer staples that include IG bonds, treasuries, and precious materials. Let's hope the trend holds for next few week.

@sma3...buy SCHW...ya, crazy part of me was thinking about it...but kind of remember during 9/11 after market closed the clowns on CNBC were putting word out that shorting the market was "unpatriotic"....F me to tears.
Question: How many folks will be lined up tomorrow morning outside First Republic branches in LaLa land? Ole' Yeller better make an announcement tonight or this could get real ugly real quick...

From Bloomberg via Yahoo Finance: Schwab Has Worst Drop in Years After SVB, Block Trade
From Barron's via Yahoo Finance: Why Charles Schwab Is Taking a Beating Along With Bank Stocks

@linter
I transcribed my grandfather's hand scribbled diaries from two business trips he took to Europe in 1938 and 1940
He was in Vienna March 15, 1938 (Anschluss ) and arguing with the desk clerk at the Hotel Imperial about why they had given his room away to the Nazis when Hitler Goering etc marched right by them, not ten feet away.
He couldn't fly out of Europe in 1940 and had to wait six weeks for a ship in Lisbon, along with hundreds of refugees and Gestapo He kept daily entries describing the faces and characters.
They are both amazing documents
These are accessible because they are limited in words and focused content. While today's world it seems like everyone puts there every thought online, how on earth is anybody going to find the gold among the dross in years to come?

FWIW saying ... perfect timing....
"Fortunately, Silicon Valley Bank’s resolution plan is still fresh. The bank became large enough in 2021 that regulators required it to draw up a “living will” on a three-yearly cycle. Silicon Valley Bank submitted its first one in December [2022]."
Marc Rubenstein's full piece is worth reading: https://www.netinterest.co/p/the-demise-of-silicon-valley-bank

Re “painfully amusing … ” Spot-on @LewisBraham +1 Pogo couldn’t have said it better.
Gosh - The appearance of posts questioning the safety of cash & short-term deposits is also painfully amusing and sounds a lot like those that popped-up on the board (Fund Alarm?) in the first few months of the Great Financial Crisis of ‘07-‘09. Obviously there are stark differences between the two episodes.
From the network news sources, Etsy and Roku are a couple prominent businesses that had money at SVB. Kind of sounds like they’re not covered to the full extent by FDIC insurance. And several Etsy sellers appeared on air bemoaning that their payments for items sold weren’t being received. What say you J. Powell?