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Misc Stock Market

Fed ATM open up for all...

FED: WE STAND READY TO PROVIDE LIQUIDITY TO ELIGIBILE INSTITUTIONS.
QT is over. Inflation's here to stay.

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Ok guys and gals the Fed is printing again and tech is responding. It is hooked on Fed liquidity. So I’d appreciate it if y’all can hold this together tomorrow and next week as I take the Fam to St. John for 9 days. Tia
Just buy calls and have a nice trip! ?
 
 

The new normal is central bank coordination to backstop every facit of the financial system and the economy. This ultimately leads to government control over everything. In the meantime, institutions can make whatever poor decisions they want and they'll just get propped up, backstopped, or taken over. No big deal. Probably a big green day in the stock market tomorrow.
 
Credit Sussie..

Cliff notes.

UBS-Credit Suisse Deal Verdict Awaited in Asia Trading
UBS to take over Credit Suisse with billions in SNB, state support
Holders of risky bonds face $17 billion wipeout
Fed, global central banks move to boost dollar funding
Thousands of jobs at risk; CS investment bank to shrink
Treasuries fall with yen amid positive market reaction..

UBS Group AG is emerging as a rare winner in Credit Suisse Group AGs crisis after a historic, government-brokered deal that contains a raft of financial shock absorbers.

Government backstop helps clinch an emergency weekend deal
UBS plans to shrink investment bank, significant cost cuts..
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An emergency ordinance, a government backstop, and shareholders coming out better than some bondholders: UBS Group AGs government-brokered deal to buy Credit Suisse Group AG is historic, complex and unique.
Among the biggest losers in the shotgun sale of Credit Suisse Group AG are investors in the firms riskiest bonds, known as AT1s, worth $17 billion.

These money managers are set to be wiped out potentially sending that $275 billion market for bank funding into a tailspin, while threatening blowback for European policy makers in crisis-fighting mode.

Money managers are frantically poring through the fine print for these so-called additional tier 1 securities to understand if authorities in other countries could repeat what the Swiss government did on Sunday: Wiping them out while preserving $3.3 billion of value for equity investors. Thats not supposed to be the pecking order, some holders in the bonds insist.

This just makes no sense, said Patrik Kauffmann, a fixed-income portfolio manager at Aquila Asset Management, who holds the notes. Shareholders should get zero because its crystal clear that AT1s are senior to stocks.

One UK bank CEO put it even more bluntly: The Swiss have killed this key corner of funding for lenders, he said, asking not to be named because the situation is sensitive. His comments underscore how the global financial community is on edge after the UBS takeover of Credit Suisse, which came on the heels of the collapse of three regional US banks.
 
$AAPL closed at a 6-month high. Meanwhile banks still very very weak.

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