2 Oct 2023
U.S. Banks are facing roughly $600 billion of unrealized losses which accounts for roughly 25% of total banking capital, near the highest levels in history
Source: Barchart, FDIC, Alpine Macro
29 Sep 2023
A lot of US banks deposits are going into money market funds which saw a $6.3 billion inflow last week, up to $5.64 trillion
Money market funds paying 5%+ interest rates have become the new safety trade. Source: www.zerohedge.com, Bloomberg, The Kobeissi Letter Activate to view larger image,
23 Aug 2023
In case you missed it...what's going on with Citigroup?
Yesterday it had its lowest close of 2023, back to the panic levels of mid-March when Silicon Valley Bank failed. Source chart: James Bianco
8 Aug 2023
Italian banks slump after government introduces windfall tax
Deputy PM Salvini announced a 40% levy on extra profits of lenders for 2023 as part of a wide-ranging decree approved at a cabinet meeting. Analysts estimate it will wipe 19% from bank earnings. Levy targets higher interest incomes following rate hikes by ECB. Source: Bloomberg, HolgerZ
