So it begins… t.co/d667M4i7OZ
— Financelot (@FinanceLancelot) April 24, 2023
First Republic is imploding after hours due to a larger than expected drawdown in deposits.t.co/j2WbGDKthG
Now a 95% chance of Fed hike next week.
Bulls, do you still think rate hikes are good for bank stocks? pic.twitter.com/fkDOD7OVBS
— Mac10 (@SuburbanDrone) April 24, 2023
FRC deposits pic.twitter.com/R4hcsb6Bng
— zerohedge (@zerohedge) April 24, 2023
how long until the bank crisis is back: here's the answer pic.twitter.com/aRQFa3lmgp
— zerohedge (@zerohedge) April 24, 2023
First Republic Bank, $FRC, to cut 20-25% of its workforce and explore strategic options
— unusual_whales (@unusual_whales) April 24, 2023
A Tidal Wave of Money Leaving Banks Will Kill Bank Profits and Lending
Let’s tune into a mass exodus of deposits at banks for money market mutual funds and what it means.
Recession Odds Jump As The Fed Crushes Consumers
Recession odds have climbed considerably since Jerome Powell’s testimony before Congress and the latest FOMC meeting. However, the recent failures of Silicon Valley Bank (SVB) and Credit Suisse (CS), as higher rates impact regional bank liquidity, also added to the risks.
This isn’t the first time we have warned the aggressive rate hiking campaign would either cause a recession or “break something.”
Bank reserves could fall between $900 billion to $2.5 trillion by year's end, Fitch Ratings has said.
— unusual_whales (@unusual_whales) April 24, 2023