In today’s briefing:
- Macro Watch: The Banking Crisis Is Likely to Accelerate in Coming Weeks
- Europolitics Watch: Are EU Banks Actually Less Exposed?
- Assessing the Technical Damage
Macro Watch: The Banking Crisis Is Likely to Accelerate in Coming Weeks
- The banking crisis will continue to rage until the Fed and the ECB accept the underlying reason for the deposit flight
- Banks cannot cope with an über-inverted yield curve, why cuts are needed asap to contain the situation
- It will likely get worse before it gets better consequently
Europolitics Watch: Are EU Banks Actually Less Exposed?
- Are EU banks more solid and protected from bank runs and instability in the banking system?
- Have the EU set up safe-guards that will keep the European Banks safe?
- We take a closer look and are not overly convinced.
Assessing the Technical Damage
- The stock market has sustained considerable technical damage. Textbook technical analysis calls for a period of basing before stock prices can rise in a sustainable way.
- We would watch the regional banks, which have become an open wound for investors. The KBW Regional Bank Index needs to hold long-term support for the market to sustainably rally.
- In the short run, the direction of the greenback will depend on the market perception of Federal Reserve actions.
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