Regional Banks In Freefall
Just checked gold, saw it went vertical -
Weak JOLTS?, Poor factory orders, a sudden realization of the urgency and seriousness of the debt ceiling debacle, Europe back from vacation, or just pre-FOMC jitters?
Who knows to be frank but everything went just a little bit turbo, starting with a total collapse in regional banks...
https://assets.zerohedge.com/s3fs-pu...?itok=_9Nm_AXvAnd despite the Biden admin claiming that FRC was just another 'outlier' business model, PacWest, Western Alliance, and Zions (among others) are in a freefall...
https://assets.zerohedge.com/s3fs-pu...?itok=zGa0bABuLooks like we are back to "who's next" after yesterday's Milken Conference. Here's a guide...
https://assets.zerohedge.com/s3fs-pu...?itok=ysZCWWEYBut the 'big banks' are also getting slammed...
https://assets.zerohedge.com/s3fs-pu...?itok=zxexyeKKThe majors all instantly puked at the US cash open, led by Small Caps (but The Dow and S&P are down over 1%)...
https://assets.zerohedge.com/s3fs-pu...?itok=fGA2Sxpu"Most Shorted" stocks are getting monkeyhammered lower...
https://assets.zerohedge.com/s3fs-pu...?itok=m1OxtbbSNotably, 0-DTE traders are fighting this downtrend hard...
https://assets.zerohedge.com/s3fs-pu...?itok=sDiuQ6TrSource: SpotGamma
Just as we warned yesterday, the surge in yields (driven by a heavy corporate calendar and illiquid marke) has reversed entirely with yields collapsing this morning...
https://assets.zerohedge.com/s3fs-pu...?itok=rio8uCgJThe 2Y Yield has puked back to a 4.00% handle...
https://assets.zerohedge.com/s3fs-pu...?itok=l3W1ipK6Rate-hike expectations are dovishly puking lower...
https://assets.zerohedge.com/s3fs-pu...?itok=Ctob0NjOGold has spiked back above $2000...
And Bitcoin is starting to rip again...
And Oil prices are tumbling, with WTI now back well below pre-OPEC+ levels...
Is this a last minute effort to pressure Powell to be 'one and done'?
https://www.zerohedge.com/markets/st...banks-freefall