[Chart courtesy of MarketWatch.com] Moving the markets Even though the Fed did exactly what was expected, namely hiking rates by only 0.25% to the 4.75%-5% target range and confirmed that Quantitative Tightening (QY) will continue as had been assumed, the markets reacted violently. Trying to spew some words of reassurance, Powell added: The U.S. banking system is sound and resilient. Recent developments …
Hoping For A Fed Assist
[Chart courtesy of MarketWatch.com] Moving the markets Optimism ruled today’s session following Treasury Secretary’s latest assertions to contain the banking crisis. That’s all traders and algos needed to hear and up went, with the S&P 500 now having wiped out this month’s losses. Regional banks recovered, as the KRE index added 5.6%, helped by Yellen’s announcement that the government would …
Hope Rules As Banking Fears Ease
[Chart courtesy of MarketWatch.com] Moving the markets Market bulls received news on the banking crisis that they interpreted as hope that things are not as bad as feared due to the takeover of Credit Suisse by UBS, which appeared to be nothing more than a forced wedding by the Swiss government. The broad markets advanced, and even regional banks rebounded …
ETF Tracker Newsletter For March 17, 2023
ETF Tracker StatSheet You can view the latest version here. ENDING A ROLLERCOASTER WEEK WITH A NOSEDIVE [Chart courtesy of MarketWatch.com] Moving the markets The state of the US Banking sector remains precarious, as confidence has not been restored causing the major indexes to take another dive. Maybe traders finally got the idea that, not just covering $250K of …
Reader Q&A
[Chart courtesy of MarketWatch.com] Moving the markets After an early dump, the major indexes shifted in reversal mode not because the banking crisis had passed but merely because a temporary fix had been found. A consortium of 11 of the largest US Banks combined forces and agreed to a historic $30 billion unsecured deposit injection in First Republic Bank (FRC). …
Banking Crisis Expands—Meltdown #2 On Deck
[Chart courtesy of MarketWatch.com] Moving the markets As I posted before, once you find a cockroach in your house, you can be assured it’s not the only one. That is akin to a banking system that got addicted to low bond yields and is now trying to deal with and operate in an environment of higher rates, which means that …