The stock market saw some relief today as the "day of healing" for bank stocks was fueled by regulators discussing ways to expand the Fed's emergency lending facility. I go over what this news means and my theory, but the main point is that nothing has been decided yet. This didn't stop traders from buying the dip on bank stocks in anticipation and good news for First Citizens bank (FCNCA stock) helped lift sentiment and other regional bank stocks. Nonetheless, I do not this this will last and the clearest signal of that, that highlights the market volatility, is that bond yield are still elevated and swinging rapidly. Today was the biggest down day for bonds this year, but the daily swings are now bigger than early 2020. We are even watching Fed futures move at a pace that is higher than normal and swinging market expectations for rate hikes. This will be the next big thing to watch for this banking crisis saga, as more volatility could be a sign or lead to credit markets freezing up. After this market recap, I go over my trades for the day!
THIS IS NOT A RECOMMENDATION OR FINACNIAL ADVICE I AM NOT A LICENSED FINANCIAL ADVISOR
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DISCLAIMER: These videos are for educational purposes only. Nothing in this video should be construed as financial advice or a recommendation to buy or sell any sort of security or investment. Consult with a professional financial advisor before making any financial decisions.
