S**t Just Hit The Fan Across Markets, Regional Banks Crashing

Weak JOLTS?, Poor factory orders, hot EU inflation, surprise RBA rate-hike, a sudden realization of the urgency and seriousness of the debt ceiling debacle, Europe back from vacation, or just pre-FOMC jitters?

Or was it this!?

Who knows to be frank but everything went just a little bit turbo, starting with a total collapse in regional banks…

And despite the Biden admin claiming that FRC was just another ‘outlier’ business model, PacWest, Western Alliance, and Zions (among others) are in a freefall…

Looks like we are back to “who’s next” after yesterday’s Milken Conference. Here’s a guide…

But the ‘big banks’ are also getting slammed…

The majors all instantly puked at the US cash open, led by Small Caps (but The Dow and S&P are down over 1%)…

“Most Shorted” stocks are getting monkeyhammered lower…

Notably, 0-DTE traders are fighting this downtrend hard…

Source: SpotGamma

But VIX1D is exploding higher…

Just as we warned yesterday, the surge in yields (driven by a heavy corporate calendar and illiquid marke) has reversed entirely with yields collapsing this morning…

READ MORE HERE

By Published On: May 3, 2023Categories: FinanceComments Off on S**t Just Hit The Fan Across Markets, Regional Banks Crashing

Share This Story, Choose Your Platform!

About the Author: Patriotman

Patriotman currently ekes out a survivalist lifestyle in a suburban northeastern state as best as he can. He has varied experience in political science, public policy, biological sciences, and higher education. Proudly Catholic and an Eagle Scout, he has no military experience and thus offers a relatable perspective for the average suburban prepper who is preparing for troubled times on the horizon with less than ideal teams and in less than ideal locations. Brushbeater Store Page: http://bit.ly/BrushbeaterStore

GUNS N GEAR

Categories

Archives