Key recession indicator sends investors sharpest warning in 42 years

[Guard Dad]

Key recession indicator sends investors sharpest warning in 42 years

The Treasury yield curve is sending the market a stark warning about recession risks with the difference between 2-year and 10-year Treasury yields reaching the widest since 1981 on Tuesday.

finance.yahoo.com

 

[Captain Rhett Butler]

I'm missing Trump's economy. Gas was under $2 per gallon, food, homes and cars were affordable and life was peachy.

 

[Guard Dad]

I'm missing Trump's economy. Gas was under $2 per gallon, food, homes and cars were affordable and life was peachy.

Yeah but we had to endure mean tweets!

 

[Paxilpapa]

Yeah but we had to endure mean tweets!

Do you want to know how I solved that problem??

I stayed the hell away from Twitter!! I never once got a mean tweet!

 

[Guard Dad]

Do you want to know how I solved that problem??

I stayed the hell away from Twitter!! I never once got a mean tweet!

I've never been a twit.

I mean, never done Twitter.

 

[J-man]

I'm missing Trump's economy. Gas was under $2 per gallon, food, homes and cars were affordable and life was peachy.

Don't say that too loud, people don't want to remember when things were going well.

 

[cptlo]

I'm missing Trump's economy. Gas was under $2 per gallon, food, homes and cars were affordable and life was peachy.

We'll get back to all that when President DeSantis starts in January 2025.

 

[J-man]

I just finished a stock course this week and have been practicing the theory with “paper trades” some this week. I went to place a live trade today but chickened out, it just didn’t seem to be good timing even though the indicators all said to buy. It’s different when it’s your real money at the table. I was a very active trader for a few years but took a break last year when we built the house, I didn’t want to risk losing any. I’m on the sidelines just waiting now. I think lots of people would like to invest in something but there is an overwhelming lack of confidence in our economy and those in charge of it. You can almost feel something about to break any day now.

 

[Guard Dad]

We'll get back to all that when President DeSantis starts in January 2025.

I would love to see it, I really would. And I won't say it's not possible, but he has his work cut out for him.

 

[J-man]

Watch the banking industry, it's beginning to crack. Well hello CBDC.

Futures Tumble As SVB Implosion Spark Global Banking Turmoil; Payrolls Loom | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

"SVB Financial Group (SIVB) the parent of Silicon Valley Bank, saw its stock tumble more than 66% in premarket trade Friday, in a continued response to reports late Thursday that several funds were advising clients to pull their money, sparking fears of a run on the bank..."

 

[Guard Dad]

A friend of mine is a bank VP, and he said the big banks are laying off people left and right.

 

[J-man]

A friend of mine is a bank VP, and he said the big banks are laying off people left and right.

There are rumors of liquidity issues in some big bank. Hopefully it's just rumors.

 

[Guard Dad]

Fed says interest rates poised to go ‘higher than previously anticipated.’ Here's a simple way to profit from that

Jerome Powell called for even higher rates in his Senate Banking Committee testimony Tuesday; that could mean even better rates for savers.

www.marketwatch.com

 

[J-man]

The Fed follows the 2yr treasury yield, whatever the 2yr yield does the treasury follows. Currently the 2yr is at or near 4.90 and the Fed is at 4.57, the Fed will soon raise rates by at least 25 pts.

 

[J-man]

More on the banks:

Wells Fargo glitch shows negative balances, missing direct deposits

Deposits are not showing up or have disappeared.

www.wsbtv.com

I personally don’t buy the excuse of a software glitch, it was more likely an overnight liquidity issue. Even if it was a software glitch, is that any better? WF is consistently in the news with bad reports, I would never ever bank with them.

https://www.thestreet.com/technology/two-us-banks-collapse-in-48-hours-which-one-is-next

 

[Captain Rhett Butler]

Back during the Great Depression, my great-grandpa invested in Salt. Folks needed it then and still need it today. Buy something that'll be here long term. Crypto was a suckers bet, but gold, salt, energy, food, lumber and shipping will be here for many future generations. I always avoid buying CD's from internet banks, even though they're supposedly FDIC insured.

 

[Guard Dad]

Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis

The tech-focused bank was closed by regulators on Friday after attempts to raise more capital failed.

www.cnbc.com

 

[Far West]

Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis

The tech-focused bank was closed by regulators on Friday after attempts to raise more capital failed.

www.cnbc.com

And so it begins...

 

[Far West]

Schwab

Bank of America

Wells Fargo

JPMorgan

Morgan Stanley

Goldman Sachs

Citi

tick tock

tick tock

BOOM

Wall Street's 4 top banks just had $55 billion wiped off their market value in a single day

JPMorgan, Bank of America, Wells Fargo and Morgan Stanley saw $55 billion wiped off their combined market capitalization on Thursday.

markets.businessinsider.com

JPMorgan Chase, Bank of America, Wells Fargo and Morgan Stanley - the four most valued US lenders - saw $55 billion wiped off their combined market capitalization on Thursday, Refinitiv data show.

Among other major US banks, Goldman Sachs and Citi also witnessed significant declines in their share prices.

Why Charles Schwab Is Taking a Beating Along With Bank Stocks

The giant brokerage firm's stock dropped as much as 20% on Thursday and Friday.

www.barrons.com

 

[Far West]