(Thread IKs:
skooma512)
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https://www.reuters.com/business/finance/moodys-downgrades-signature-bank-junk-places-six-us-banks-under-review-2023-03-14quote:March 13 (Reuters) - Ratings agency Moody's on Monday downgraded the debt ratings of collapsed New York-based Signature Bank (SBNY.O) deep into junk territory and placed the ratings of six other U.S. banks under review for a downgrade. Right now First Republic stock looks up 20% pre-market so I guess this isn’t too much of a spooky shock. Still, any negative news about any of these banks could tip over a domino. Even if it isnt “rational” and just makes depositors jumpy enough to blow a hole in the balance sheet.
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Mar 14, 2023 12:01
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| # ? May 25, 2024 13:35 |
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I don't know fancy things about financial anything. No top hat in my cupboard. But my gut feeling is investing in blue chip resource extractors to divest of unwanted liquidity is probably relatively safe in an era where inflation is lurking under the bed and hyperinflation in the cupboard. Leaving more than a rainy day fund in the bank for your unplanned surgeries and such? Wow yeah nah. gently caress what do these words even mean. I think I must have mumbled some dumb Harry Potter spell. Pay me no mind.
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Mar 14, 2023 12:07
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i can't remember what this thread thinks about matt levine but this is the most lucid and straightforward explanation i've read yet about What Is Going On https://archive.is/l4nLU
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Mar 14, 2023 12:12
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Petey posted:i can't remember what this thread thinks about matt levine but this is the most lucid and straightforward explanation i've read yet about What Is Going On https://archive.is/l4nLU can’t speak for everyone, but i have a little matt levine shrine in the closet that my family pays offerings to 4 times per year
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Mar 14, 2023 12:14
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I was listening to some analysts talking about SVB and it seems an entirely avoidable situation bought on by some loving incompetent managerial decisions and the lack of a risk manager to say "hey everyone, maybe lets not do that in case X happens". Key question marks are things like why invest all that stuff in long term risk for minimal benefit if all goes well but you know. However it does cast a spotlight on certain things, which may in turn cast a spotlight on other things. Does the emperor still have clothes when caught in the spotlight? Well that all depends on who is asking and what their own leverage is.
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Mar 14, 2023 12:14
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coelomate posted:can’t speak for everyone, but i have a little matt levine shrine in the closet that my family pays offerings to 4 times per year not just you it seems  
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Mar 14, 2023 12:19
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no way the cpi report today is higher than 5.0. they are going to make up tons of poo poo
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Mar 14, 2023 12:27
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quote:The consumer price index is expected to have risen by 0.4% in February, or at a 6% annual pace, according to Dow Jones. That’s compared to increases of 0.5% and 6.4%, respectively, in January. https://www.cnbc.com/2023/03/13/consumer-inflation-may-have-cooled-in-february-but-only-slightly.html edit: 0.4% * 12 = 4.8% so I don't fully understand that expectation, but the number priests will sort us all out come 8:30 am est i am sure
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Mar 14, 2023 12:34
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coelomate posted:https://www.cnbc.com/2023/03/13/consumer-inflation-may-have-cooled-in-february-but-only-slightly.html Love this breathless up-to-the-minute reporting on long-term concepts
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Mar 14, 2023 12:37
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Vox Nihili posted:We got a 2015 Prius brand new for ~$20,000 in 2016. Hopefully it'll last until we die. For the first time ever I'm hearing this from so many people. I don't know if it's the prices, the cars, the shopping experience, a desire for people to move towards public transportation (lol it's not that) but I hope I never have to buy another car again.
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Mar 14, 2023 12:39
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Not a Children posted:Love this breathless up-to-the-minute reporting on long-term concepts Welcome to finance and economics where everyday you revise long term expectations
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Mar 14, 2023 12:45
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Sounds like they have some... gaps in their reporting. Holes, even.
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Mar 14, 2023 12:50
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Gas is back under $3 a gallon here. Eggs and bacon are both cheaper still higher than pre-covid but not at the dizzying heights
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Mar 14, 2023 12:56
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i havent seen any real changes in eggs or bacon their still very expensive here gas is still like 3.60 and changes between that and 3.40ish
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Mar 14, 2023 12:58
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Vox Nihili posted:We got a 2015 Prius brand new for ~$20,000 in 2016. Hopefully it'll last until we die. It's hard to believe that brand new cars used to sell for less than $25,000.
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Mar 14, 2023 13:02
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Mr Hootington posted:Gas is back under $3 a gallon here. Eggs and bacon are both cheaper still higher than pre-covid but not at the dizzying heights recession over
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Mar 14, 2023 13:02
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turns out inflation keeps rising and some random goods go up and down
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Mar 14, 2023 13:03
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Just feel blessed to live in a system robust enough to diffuse all this financial goings on by shelling out hundreds of billions of dollars with no negative repercussions
Egg Moron has issued a correction as of 13:05 on Mar 14, 2023 |
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Mar 14, 2023 13:03
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HallelujahLee posted:turns out inflation keeps rising and some random goods go up and down Most goods inflation has slowed significantly. Energy commodities are still edging down. It seems that market believes a recession is coming so that should help. If oil spikes for summer you will see a slight resurgence. PPI will be important this month.
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Mar 14, 2023 13:07
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Only like 20 more minutes to speculate and be wrong! There's basically no way they let this CPI report come in hot, right? It's going to show declining inflation but probably below the funds rate - then get revised higher later.
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Mar 14, 2023 13:12
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the massaged bs numbers they put out to claim inflation is slowing down yeah
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Mar 14, 2023 13:12
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remember when they tried to say inflation was 0
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Mar 14, 2023 13:16
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0 inflation 0 risks 0 vibes 0 bailouts
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Mar 14, 2023 13:17
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HallelujahLee posted:the massaged bs numbers they put out to claim inflation is slowing down yeah I'll have you know an entire network of social proof signed off on those numbers all of academia is cool with hanging out with them - the english dept is there just off screen and the government put it out and now here you are acting like the core of that is some cabal of 10th dentists always selling us a pack of loving lies that are convenient to the existing power structures..
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Mar 14, 2023 13:18
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euphronius posted:remember when they tried to say inflation was 0 Inflation way down Profiteering way up
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Mar 14, 2023 13:20
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last Tuesday or so everyone was nervous about inflation higher than expected from other indicators, and Powell was testifying before congress in a way that implied that the hotish inflation numbers meant more and longer rate increases. Then we forgot that because we had a little banking crisis. A hot number today and maybe we can forget about the banking crisis!
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Mar 14, 2023 13:28
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I bank with a credit union, should I be worried
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Mar 14, 2023 13:29
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coelomate posted:last Tuesday or so everyone was nervous about inflation higher than expected from other indicators, and Powell was testifying before congress in a way that implied that the hotish inflation numbers meant more and longer rate increases. i want whichever one gives us more blood
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Mar 14, 2023 13:29
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Cup Runneth Over posted:I bank with a credit union, should I be worried No
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Mar 14, 2023 13:31
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https://twitter.com/DeItaone/status/1635619481891250182?cxt=HHwWjICx3ZfQ8bItAAAA
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Mar 14, 2023 13:31
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https://twitter.com/matthewstoller/status/1635618437668954114?t=CL0ub8ydYwd4phBTeMgt0g&s=19quote:https://twitter.com/LiveSquawk/status/1635619455362383875?t=Vgff8EmslZFHGQR1W8ej_A&s=19 The disinflstion continues! https://twitter.com/byHeatherLong/status/1635619628687986691?t=Ff0JXdEQSSJ8MSR9b7gIBQ&s=19
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Mar 14, 2023 13:32
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Cup Runneth Over posted:I bank with a credit union, should I be worried yes but not about your credit union
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Mar 14, 2023 13:34
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nice inflation keeps going up even with their bs numbers onwards then
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Mar 14, 2023 13:34
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going up slower is basically the same as going down
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Mar 14, 2023 13:35
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inflation is 6% and rates are 4.5% and inflation won’t come under control until rates are higher than inflation I wonder what we should do let’s ask mr. market? market: SLASH RATES TO ZERO DO IT NOW OR I WILL KNOCK OVER ANOTHER BANK SO HELP ME GOD hmmm
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Mar 14, 2023 13:35
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Good Soldier Svejk posted:going up slower is basically the same as going down
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Mar 14, 2023 13:36
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Good Soldier Svejk posted:going up slower is basically the same as going down put this goon on CNBC right now; they have been chosen to speak to the people on behalf of Number
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Mar 14, 2023 13:36
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gimme 50 basis points or give me death
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Mar 14, 2023 13:37
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Those are high even with gas cratering. God drat. Food going up with energy going down is a big alarm bell.
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Mar 14, 2023 13:37
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| # ? May 25, 2024 13:35 |
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wow turns out they can charge whatever they want without regards to gas prices or anything really in a system that allows the owners to do whatever without consequences everyone wins
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Mar 14, 2023 13:38
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