(bull steepening, underperforming BUNDS and all on 5x avg volumes with liquidity 'challenged')while WE slept; #BTFP; "Removing Our March Fed Rate Hike Expectation" -GS;
(bull steepening, underperforming BUNDS and all on 5x avg volumes with liquidity 'challenged')while WE slept; #BTFP; "Removing Our March Fed Rate Hike Expectation" -GS;
thebondbeat.substack.com
Good morning … Once again under the cover of night, rules have changed. We went out Friday wondering / thinking about SVB and that $250k insured deposit limit and then, last night THIS happened, Joint statement from US Treasury, the Fed and the FDIC says the resolution of Silicon Valley Bank to be conducted “in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”
Good info.