Money market funds swell by more than $286bn as investors pull deposits from banksGoldman Sachs, JPMorgan Chase and Fidelity benefit from big inflows amid turmoil in financial sector >>> Why would anyone deposit and/ leave money in a bank account yielding close to zero...with U.S money markets yielding over 4%? this is 2023, clients can all act very quickly from their Iphones! no need to queue at the tills to get cash out.. banks only got themselves to blame for not lifting 'deposit rates' higher in recent months..?
China’s industrial profits slump deepens on soft demand, high costs..S&P: Our growth prediction of 5.5% for China this year is higher than the country's aim of roughly 5% and is driven by consumption and services. Jack Ma returns to China in sign of political easing on Alibaba
First Citizens Bank to buy SVB's deposits, loans from FDIC
Israel: mass protests after sacking of minister who opposed judicial overhaul
Fed' Bullard raised his outlook for how high interest rates should rise by 25bps to 5.625%, “I would put 80% of probability on the case where financial stress abates," Bullard said, speaking in St. Louis. "If it doesn't abate, that's a completely different world where financial stress gets more intense, and I would be willing to react to that.”
US bank trouble heralds end of dollar reserve system. Bank crisis not a credit quality problem but stems instead from now-impossible task of financing America’s ever-expanding foreign debt
Probability of US Recession Remains Elevated/The Conference board (chart)
Finma Chair Accuses Credit Suisse of Lack of Cooperation
Bill Gates / The Age of AI has begun. Artificial intelligence is as revolutionary as mobile phones and the Internet
Nato condemns 'dangerous' Russian nuclear rhetoric
Novartis: Kisqali Breast Cancer Drug Cuts Risk Of Recurrence
The recent Iran-Saudi Arabia deal, brokered by China, heralds a reduced role for Switzerland in the region. China’s success in mediating between the two countries has come as a surprise to many
France strikes intensify as anger mounts over retirement age hike
Markets :
No bank failure, some chatters of government interventions late last week, helped SPX500 flirt with 4K area again >>> broad relief in bank shares this morning too, DB and so on, but heading into quarter-end so beware of (lack) of liquidiities, works both ways mind ! #DB Deutsche Bank cheak enough for a trade ? chart below (and-or a few European banks of your choice..)
FXland fairly quiet really in majors relative to bonds. CHF remains firm overall
Bonds remain wild, few 'leveraged' CTA/Macro fund casualties (see article below), after those incredible moves seen in March #marchmadness !
GOLD tested $2K - profit taking into quarter-end likely it seems
Markets will remain a little wild, lack of liquidities (U.S March payrolls will be on Good Friday..when most markets closed next week), few days of quietness doesn't mean the horizon is clear. It will take a while to heal
Quarter-end focus to dominate market flows this week
By contrast, last year’s star performers from Pierre Andurand and Said Haidar to billionaire Chris Rokos were hit by double-digit losses and gave up a large part of their gains in a matter of days. One veteran macro trader, Adam Levinson, erased more than the money he’s ever made since he spun off his Graticule Asia macro hedge fund in 2015. The fund is now shutting down.
US bank trouble heralds end of dollar reserve system – Asia Times >>> little bit of a pro Gold article long-term..which many will argue is nothing 'really' new, but still..
Cannabis trial to start in Switzerland (theswisstimes.ch) One step closer to legalization? Advocates say the move could help Switzerland’s economy and undermine the black market for marijuana in the country
Deutsche Bank - cheap enough for a trade ?
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