Time4Pizza

Freshest take on today’s market youtube.com/shorts/Vnz4ezi…

What would be worse honestly… that Western Alliance is looking for a buyer… or that they aren’t looking for a buyer considering their business model is dead

Western Alliance says reporting by the Financial Times this morning that it is looking for a buyer is “categorically false”! … at least until this coming Tuesday when it will announce that it is looking for a buyer.

@elerianm @UBS @firstrepublic Spot on. And how do you think whack a mole ends?

The evolution of the #banking turmoil has imparted a notion of "whack a mole" in #markets and, more importantly, among bank regulators and #CentralBanks. After yesterday's @UBS / #CS announcement, the focus shifts back to the US and the urgent need to stabilize @FirstRepublic.

Time to GTFO out of markets until something more concrete occurs. Something could (and will) break at any moment, causing a crash. On the other hand, God only knows how many billions in liquidity are being injected daily right now This ends BADLY, but timing it isn’t easy

@zerohedge OUCH

ECB HIKES 50bps

What’s going to happen on Wednesday, if they don’t end up CUTTING rates, is they will be left unchanged The banking crisis is being caused by a mismatch in interest rates. The Fed isn’t going to exacerbate that when rates where they are are doing the job

Odds are currently at 75% for a 25bps hike What are those bettors smoking?? If the Fed bumps rates at all and doesn’t leave them unchanged on Wed it will cause an absolute panic. Panic. Period. Banks are collapsing. The Fed is not gonna raise rates

@imnblue @elerianm How about all the 3% mortgages and business loans handed out when rates were at zero and money was being dumped into the economy? They are the exact same thing as those bonds, except riskier All the debt created during the boom is now losing money in real terms and toxic

@elerianm What happens to all the long term bonds that were sold over the last decade, aren't they all sitting in unrealized losses, these are not just held by banks , there r corporations, countries, other funds also holding these no?

This is the typical regulatory response to a financial accident that surprised the Federal Reserve. It is warranted if last week’s bank failures were due to a broad structural weakness rather than (i) bank-specific issues and (ii) lapses in Fed supervision and analysis. 1 of 2

@JubCapital First, they always say that. There’s never been a bank that’s gone under that hasn’t said everything is fine Second, CS has assets over a trillion dollars. The Swiss NATIONAL GDP is $800B. Any guarantees by Swiss authorities to make investors whole is immediately suspect

You would have thought that after the beating #CreditSuisse has had the past few days that this would be seen as positive.... nobody believes it or have gone home for the day. Bizarre. #SNB #CSFB

Thanks Joe!! For zero explanation about why this happened

I do love how people are sticking to the story that repricing US treasuries are what caused these bank failures… Btw, treasuries are literally the definition of Risk Free investments This was not caused by repricing treasuries. See: stablecoins

There’s a toxic coin out there right now, perhaps more than one. We all knew this day would come. Bitcoin has its place, and maybe a couple of others, but crypto sector is mostly bullshit coins This is crypto issue people. Buy your puts tomorrow accordingly

The three biggest crypto banks just got shut down in one week. People blamed treasuries for SBV, which was always odd. Frankly it was odd that tech was where a panic was beginning… but it’s not so odd to think crypto might be where the dam begins to break…

Alright, I know everyone is still hung up on the bailout, and rightfully so. It’s bullshit. But let’s start thinking about to make some money… This looks less and less like a VC/banking issue, and more and more like a crypto issue… (thread)

@KenzieSigalos But seriously, when the three largest crypto banks fail or are shut down in the space of a week… and one of them blames it on treasuries… This is common sense folks. These banks were holding a very very toxic asset. And crypto coin is the only logical conclusion

Crypto's banking trifecta is gone. SVB, Signature & Silvergate all collapsed in less than a week. But #bitcoin, #ether & the wider crypto market are surging - and stables like #USDC are back to par. What's driving the rally: cnb.cx/3T9WWl2

@KenzieSigalos Morons?

Something that lost 100% of its value, not a few bps like treasuries

If this was about repricing treasuries SVB would have found a buyer, if they ever would have been in trouble in the first place. And you don’t preemptively kill another regional bank because they lost 5% on their treasuries These banks were holding something much worse