From ZeroHedge:
Weak JOLTS?, Poor factory orders, hot EU inflation, surprise RBA rate-hike, a sudden realization of the urgency and seriousness of the debt ceiling debacle, Europe back from vacation, or just pre-FOMC jitters?
Or was it this!?
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Who knows to be frank but everything went just a little bit turbo, starting with a total collapse in regional banks...
And despite the Biden admin claiming that FRC was just another 'outlier' business model, PacWest, Western Alliance, and Zions (among others) are in a freefall...
Looks like we are back to "who's next" after yesterday's Milken Conference. Here's a guide...
But the 'big banks' are also getting slammed...
....MUCH MORE, chart mania
