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- Running to the bank? 🏃♂️💨
Hi folks 👋. I hope you’re having a survivable Monday because failing banks and tech lay-offs have me feeling like the financial crisis collaborated with the dot-com bubble in a fever dream.
Anyways,
Here’s what’s on our Radar 📡 for the week
Silicon Valley Bank + Signature Bank + Silvergate Bank Shut-Down and bank runs
Earnings reports this week: Adobe (W), Dollar General (Th)
IPOs around the world: ADNOC, Tata Technologies
Let's jump in 🤾♂️🕳️
ECONOMY 📊
Investments in US money market funds hit an all-time high of $4.9T (RT)
🧿 This is a pressure point we are focused on. US financial markets have not seen this kind of demand for this product across institutional or retail investors in decades. The pressure is likely to strain the plumbing (as we’re already seeing from the bevy of bank failures)
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US Financial Authorities announced in a joint statement Sunday night that all depositors of SVB and Signature bank would be made whole. (CNBC)
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TRENDING ✨
Japan equity funds saw their largest weekly outflow since 2018 (RT)
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BIG PICTURE 🌎
Saudi Arabia <> Iran restore ties, deal brokered by China (QZ)
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DIGITAL ASSETS⚡️
Crypto rallies on traditional financial system fears (Decrypt)
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Stablecoin USDC, regains its peg to the dollar after a tumultuous weekend (RT)
Chart Du Jour 👨🏻🍳
Meme Digestif ☕️
Have a great day, I’ll be refining the art of putting money under mattresses until this blows over. For now, I jest, and let’s consider ourselves lucky to have a government that protects its depositors, because in most countries bank-runs just create black holes of capital destruction.
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