The Reformed Broker
MARCH 12, 2023
I feel pretty confident in making this call, and I don’t make market calls very often: We have seen the top for 2-year Treasury yields. It’s not going any higher than it’s been because there’s no reason for it to. Financial conditions are now contracting hard due in part to the events of this week but also because monetary policy operates on a lag – and the first Fed Funds hike of the cycle.
The Big Picture
MARCH 12, 2023
Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • In the Hunt for Fraud, the Red Flags Start With the Auditor : With its Adani report, Hindenburg zeroed in on the tiny firm’s thin staff and client roster. ( Institutional Investor ) • Norfolk Southern’s accident rate spiked over the last decade : An analysis of federal railroad data shows accidents rising as investigators probe the company’s “safety culture.” ( Politico ) • Why Pov
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Abnormal Returns
MARCH 12, 2023
Top clicks this week Your house is a terrible investment. (jlcollinsnh.com) It's no wonder U.S. investors have shunned international stocks. (freedomdaysolutions.com) What expanding your time horizon gets you. (behaviouralinvestment.com) How much do Americans have saved for retirement? (awealthofcommonsense.com) Morgan Housel on on the art of spending money.
A Wealth of Common Sense
MARCH 12, 2023
Silicon Valley Bank, the 16th biggest bank in the country, was closed on Friday. It was the second-biggest bank failure in U.S. history. As recently as November 2021, the market cap of the company was more than $44 billion. That equity is now essentially worthless. There is a lot to this story but it really boils down to an old-fashioned bank run. A flood of withdrawals from depositors destroyed the bank.
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Abnormal Returns
MARCH 12, 2023
Markets It's hard to see interest rates going higher at this point. (abnormalreturns.com) When the financial system is under stress, the trading environment is very different. (traderfeed.blogspot.com) Stress The Fed finally broke something. (theirrelevantinvestor.com) Bank runs happen because of people. (awealthofcommonsense.com) Why finding a buyer for SVB this weekend is so important.
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MarketWatch
MARCH 12, 2023
U.S. equity markets traded higher Sunday afternoon, in the aftermath of the failure of Silicon Valley Bank SIVB on Friday, as regulators unfurled a batch of measures to help limit the fallout from the second-largest bank failure in U.S. history and the first since the 2008-09 financial crisis. In a joint statement on Sunday, regulators, including Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell and Federal Deposit Insurance Corp.
Million Dollar Round Table (MDRT)
MARCH 12, 2023
By Carla Harris Your clients and your staff view you as a leader. Yet, strong leadership does not just happen. You must be intentional in a few key areas. Visibility You must be visible because your clients are used to being able to see you. Even though you must leverage technology, it is important that they see you. It is a poor substitute for being in the same place, but it has been proven to be a powerful instrument.
The Irrelevant Investor
MARCH 12, 2023
On today’s show, we spoke with Dr. David Kelly, Chief Global Strategist and Head of the Global Market Insights Strategy Team for J.P. Morgan Asset Management about the SVB drama and knock-on effects in the economy. On today’s show, we discuss: Silicon Valley Bank drama Will the Fed break something else? What does SVB mean for interest rate hikes?
MarketWatch
MARCH 12, 2023
State authorities closed Signature BankSBNY Sunday, after Silicon Valley Bank was shut down by regulators on Friday in the biggest bank failure since the 2008 financial crisis, according to a joint statement by the Department of the Treasury, Federal Reserve, and FDIC. All depositors of Signature bank will be made whole, according to the statement. New York-based Signature Bank has been popular among crypto companies, especially after crypto-friendly Silvergate BankSI said Wednesday it would clo
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
oXYGen Financial
MARCH 12, 2023
David Nelson
MARCH 12, 2023
By David Nelson, CFA The failure of Silicon Valley Bank has sent regulators and the Federal Reserve scrambling for answers on how and why this happened. In some ways little has changed since the dark days of the financial crisis. This was a bank pushing the envelope, growing at break neck speed and seemingly unafraid that rising interest rates could turn their model upside down.
Calculated Risk
MARCH 12, 2023
Weekend: • Schedule for Week of March 12, 2023 Monday: • At 10:00 AM ET, State Employment and Unemployment (Monthly) for January 2023 From CNBC: Pre-Market Data and Bloomberg futures S&P 500 futures are up 8 and DOW futures are up 40 (fair value). Oil prices were up over the last week with WTI futures at $76.68 per barrel and Brent at $82.78 per barrel.
Random Roger's Retirement Planning
MARCH 12, 2023
John Rekenthaler from Morningstar has thoughts about how to fix Social Security. He details how each side of the political isle would have to compromise on a couple of points as he produced the following list. It does seem like something will have to give and if that is the case then there will be people who are unhappy with having to give something up.
Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor
During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.
Calculated Risk
MARCH 12, 2023
With the pandemic, there was a surge in 2nd home buying. I'm looking at data for some second home markets - and I'm tracking those markets to see if there is an impact from lending changes, rising mortgage rates or the easing of the pandemic. This graph is for South Lake Tahoe since 2004 through February 2023, and shows inventory (blue), and the year-over-year (YoY) change in the median price (12-month average).
Ron A. Rhodes
MARCH 12, 2023
In 2008 the SEC commissioned a report about broker-dealers and investment advisers, which included a section on how consumers viewed them.
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