Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
@yogibullbear -- that was my reaction when I woke up. Total reversal and then some from when I went to sleep last night.
POTUS' remarks won't help much; he sounded very reminiscent of W during the GFC.
fwiw saying BBG just said the 2-year hasn't …
https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html
and now signature bank. "Crypto-focused." When will the idiots in charge of everything finally wake up and PROHIBIT crypto??? Shit.
First Genesis (…
You think maybe Wells Fargo laid off the guys who just said to "buy Signature Bank, New York", which was closed today by its state chartering authority?
Nah, probably not.
"We stand by our analysts, because they're here precisely to make an OPINI…
The rapid rise of interest rates (to combat inflation) coupled with bank risk practices not adapting to the new reality shows that "the Fed broke the economy without realizing it."
- Garfield Reynolds on BBG.
US index futures opening higher at the Asian open 1800 NYC time....hopium?
EDIT: Probably, not looking like the green open will hold for long.
EDIT AGAIN: Up again on rescue news, so .... *makes popcorn*
BBG: "Dick Bove at Odeon Capital Group LLC notes “that reduction in bank deposits and the sharp negative reaction in the financial markets to the SVB developments suggest a deeper discontent with the banking industry’s treatment of their clients an…
Per BBG .... FED: The Federal Reserve is considering easing the terms of banks’ access to its discount window, giving firms a way to turn assets that have lost value into cash without the kind of losses that toppled SVB Financial Group, write Bloom…
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 …
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…
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 submitt…
For shorter term cash needs I was advised to put it into an FDIC insured bank deposit account. This should be insured up to 250K. I need to call Schwab tomorrow but I believe you can do this at Schwab. .... Joe and RForno I am curious— are you …
@Old_Joe or @rforno Are these automatic rolls or do "you" roll them ?
Depends. If you buy them at auction. Schwab will let you auto-roll them so it's a frictionless process. If not, you have to do it manually, because .... it's Schwab.
Contagion is spreading.....next week's going to be intersting....
SVB Fallout Spreads Around World From London to Singapore
https://www.bloomberg.com/news/articles/2023-03-11/svb-fallout-spreads-around-the-world-as-uk-firms-plea-for-help?srnd=prem…
Thanks for starting this thread. Does anyone else have concerns about Schwab’s prime money market fund SWVXX? While I am no expert presumably their government and treasury MM funds have a higher degree of safety. Unless the Republican Party defau…
Bloomberg's analysis is pretty good, though I hate that they constantly quote Summers. Their TV news is far and above better than CNBC and more analytical than sensational. (I pay for Bloomberg now that their rates are more reasonable.)
I pay fo…
USDC (US Dollar Coin, a so-called 'stablecoin') broke its $1 peg and is now trading around 90c b/c of concerns over SVC and the USDC reserves that were there.
Buckle up, folks...
Well, you guys got me off my lazy, and I moved my last over the FDIC excess which produced a 5-day settlement window. (Technically still over a bit). So, should credit unions be safe if over $250K NUCA?
If they have supplimental insurance to cover a…
And the hits just keep on coming....
BlockFi has $227 million in uninsured funds in Silicon Valley Bank
https://www.theblock.co/post/218943/blockfi-has-227-million-in-uninsured-funds-in-silicon-valley-bank
(well, 'had' is a more correct tense, I …
Here it comes...
Scrutiny Falls on $43B USDC Stablecoin’s Cash Reserves at Failed Silicon Valley Bank
https://www.coindesk.com/markets/2023/03/10/scrutiny-falls-on-43b-usdc-stablecoins-cash-reserves-at-failed-silicon-valley-bank/
Per Circle: "Sili…
Hoo boy, another 'Bear' moment for Cramer....
CNBC’s Jim Cramer urged viewers to buy Silicon Valley Bank stock last month
https://nypost.com/2023/03/10/cnbcs-jim-cramer-touted-silicon-valley-bank-stock/
(admittedly not exactly a 1:1 comparison, b…
SVB halted after falling 68% in the premarket....
WSJ: "Shares of SVB, the parent of Silicon Valley Bank, were halted due to pending news shortly after 8:30 a.m. ET, according to a web page maintained by Nasdaq that tracks stock halts. Before the …
Financials got rattled b/c there was a HUGE multi-million block of Schwab shares selling early yesterday, too.
I'm not sure there's anything major to be concerned with (yet) but if there's a new contagion/systemic risk, I bet it starts with, and sp…
It’s really hard to listen to these guys when they jump around like this. So we should jump into the SPY for a 2.5% rally?? It’s kind of a silly call.
We're down 1.6 on the SPX right now, so after this 'major crash' I'm sure the pundits are sayin…
LarryB - agreed. Nobody knows nuttin' and markets will fluctuate. Only things you can do is either stick your head in the sand (and money in the mattress) or stay in the game and remember the markets are like flying in a plane: control what you can …
The bigger question might be, will crypto be deemed accceptable only if it's a 'legitimate' digital currency controlled by a central bank? If so, to many that would defeat the purpose of crypto being a global currency existing outside the soveriei…
Anything is dangerous in the wrong (or uninformed) hands.
In crypto's case, IMO it's just another vehicle to invest in. I would trust Bitcoin or Etherium versus any number of 's--tcoins' out there as something that might be fun to invest/trade/spe…
Supposedly the buy-side and sell-side 'analysts' don't coordinate the timing of release of their guidance, but I still don't trust Wall Street to play fair, even if it's the law or SEC regulation. A Chinese-firewall sort of thing, I think.
Neverth…
The SEC allows funds a 60 day lag in filing their annual and semiannual reports (also their quarterlies).
https://www.sec.gov/rules/final/33-8393.htm
Worse (or better, depending on your perspective), funds will be phasing in the annual report equiv…
