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First Republic Under Stress, Now What?
The Macro Trading Floor
The Relationship Between the Banking Crisis, the FDIC and the US Federal Government
We've seen a very, very sharp deterioration in the budget of the US federal government through Q1 and Inter-April. I think we're running at an annualized speed of 7.5 to 8%. That is not what you would expect given the current growth and given the current employment numbers. It matters a lot that interest rates have been on the rise. And of course, the US treasury now pays more on the debt issues.
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