In a little over a week, the fallout from the collapse of Silicon Valley Bank - which has roiled confidence in the banking system - has brought a globally systemic lender to its knees.
Central banks including the Fed, the European Central Bank and Bank of Japan pledged to deepen support for liquidity, by increasing the frequency of seven-day dollar-swap operations from weekly to daily. "The news overnight from Switzerland has helped," he said, though added that the central bank moves had also drawn attention to how deep troubles may run.
The Asia day offered an encouraging start, with Japanese yen cross-currency swaps, a measure of non-U.S. investor demand for dollars, shrinking to minus 35 basis points or half their levels last week, in another sign of respite in market funding conditions.
How long will you continue to lie to people... The American and European economy is getting incredibly bad. you can't hide it from people... banks are crashing... inflation and interest rates are rising.. people don't trust banks anymore
Should be an interesting week
Pump it
Some $SPY levels to watch for the week ahead👇🏽