Home Market It was a great day!!

It was a great day!!


It is not a smooth opening to Wall Street There is chaos and fear resulting from the failures at Signature Bank and SVB. Financials are suffering from weakness in banks and regional institutions, especially those that are smaller. The US100 The opening balance was -1.76%, and the closing balance was -2.46%. US500 The US30 is down -1.10% and the US30 is down -0.70%. Not surprisingly there is a lot of jostling going on currently as investors digest the BTFP’s impacts. Volatility caused many of the smaller bank shares to stop. Biden addressed the nation to assure SVB/Signature depositors that they will be made whole and that there was no taxpayer bailout. There is still a lot of uncertainty in the system.

Yet, efforts to minimize the effects of the fallout in the UK as well as the USA have not had much impact.

European stock markets are at session lows However, the stock market is still down sharply on the day as the SVB crisis continues its grip on markets despite officials’ efforts to restore confidence in the financial sector. The US FDIC said over the weekend it will resolve SVB in a way that “Fully protects all depositors” while the Fed announced a new “Bank Term Funding Program”.

In the UK the TreasuHSCB bought through a deal between ry and BoE

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