This morning (PST) markets seem to be in the green (albeit with less conviction) likely resulting out of the joint backstopping moves from Treasury, Federal Reserve and US government for depositors and institutions affected by the SVB and Signature bank meltdown. In other news, consumers' exception of inflation dropped in February. Things are perhaps still fluid and I think it is not clear yet if the big bank stocks have bottomed. In any case, bank events have put an interesting spin to expectations of rate hikes from FOMC meeting next week. Let's see how things play out before the meeting.
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