As expected, First Republic is very likely the first bank the Fed's are going to allow to fail.
Deja vu of Lehman.https://t.co/KcY8gJk4aU
"Regulators are weighing downgrading First Republic Bank, which could lead to curbs on borrowing from the Fed" pic.twitter.com/Aq8oet81FH— Mac10 (@SuburbanDrone) April 26, 2023
The same topping process and attendant breadth divergence was observed at the all time high.
Followed by crash.
Except this one will be much larger. pic.twitter.com/8rMt8sTcbj
— Mac10 (@SuburbanDrone) April 27, 2023
The market is partying like it's 1999.
Only 32% of S&P 500 components are outperforming the broader index, the lowest levels we've seen since then.
Source: Jefferies pic.twitter.com/jhshso0jcg
— Markets & Mayhem (@Mayhem4Markets) April 27, 2023
BREAKING: Powell has said that an economic downturn is possible or even likely, but that it is necessary to cool the economy and slow inflation.
He reportedly said this in a call with Russian pranksters who were posing as Ukrainian President Volodymyr Zelenskiy, per NYT.
— unusual_whales (@unusual_whales) April 27, 2023
U.S. GDP rose just 1% in the first quarter signaling the economy is slowing and we may tip into a recession
Traders: pic.twitter.com/YmczWj4UWA
— Not Jerome Powell (@alifarhat79) April 27, 2023
This business outlook index by the Philadelphia Fed clearly deserves more attention.
The survey shows another sharp drop in economic activity, approaching historical lows.
This indicator has consistently foreshadowed economic downturns when reaching similarly depressed levels… pic.twitter.com/gzX19QBaJ4
— Otavio (Tavi) Costa (@TaviCosta) April 27, 2023
Oil gamblers, punk'd again. pic.twitter.com/FX92WTiW5A
— Mac10 (@SuburbanDrone) April 26, 2023
Worst market breadth in three decades:https://t.co/FMr8J65Ozs
It's all Microsoft now: pic.twitter.com/zScCNDz9DA
— Mac10 (@SuburbanDrone) April 26, 2023
U.S.
Disappointing GDP.
Government spending shows yet another big rise +4.7%, much higher than expected.
Consumption, +3.7% annualised. Well below estimates.
Gross private domestic investment -12.5% pic.twitter.com/4nGA3dX5LM— Daniel Lacalle (@dlacalle_IA) April 27, 2023
Banks Put Up $30 Bil to “Rescue” FR Trying to Rescue Their Exposure to $247 Trillion in Derivatives
Ever since 11 banks on March 16 donned the garb of heroic fire fighters, rushing to extinguish an inferno at a competitor bank before it spread further, we have been asking ourselves the question – why just this group of 11 banks.