Pacific West Bank had to alter the frontpage of its website to make clear that it has no relation to PacWest Bancorp, which is down 44% today.
We live in a simulation. pic.twitter.com/omekxBlqgm
— Genevieve Roch-Decter, CFA (@GRDecter) May 4, 2023
*MONEY MARKET HOLDINGS HIT RECORD $5.31T IN WEEK ENDED MAY 3:ICI
Up $47BN in a single week, up $100BN in two weeks… the bank run is accelerating pic.twitter.com/t7kuYEF6nz
— zerohedge (@zerohedge) May 4, 2023
Wow.
The bond market is now pricing a 15.49% likelihood of a rate CUT on the June meeting.
It is a major change in just just a few days ???? pic.twitter.com/MWIUQBJoZ7
— Cheddar Flow (@CheddarFlow) May 4, 2023
Sagar Singh
The Fed’s Difficult Position Is Its Own Fault
Recessions don’t come out of the blue. They’ve a cause—malinvestment encouraged by central bank credit expansion. Artificially low rates of interest send a false signal to investors and producers to begin, or proceed, producing things that either customers don’t actually want—not less than not in the amount now being produced—and/or are unable to be accomplished with available…
U.S. officials assessing possible ‘manipulation’ on banking shares – source
Here we’re again, 2008 on repeat. Predatory short sellers found weakness within the banking sector and are exploiting that weakness for his or her personal gain.
Do the banks now get a special exemption to ban short selling on their stocks like they did in 2008?
First Republic’s takeover worsens the ‘too big to fail’ bank problem, and taxpayers shall be on the hook, Elizabeth Warren has said.
— unusual_whales (@unusual_whales) May 4, 2023