The Deal to Acquire First Republic

JP Morgan announced to investors that the deal accelerates and complements its wealth management strategy which has focused on better off rather than super rich customers. Charlie Munger warned of a brewing storm in the US commercial property market with American banks full of what he said were bad loans as property prices fall. David Hunt from PGIM speaking at the Milliken conference on Monday argued that the turmoil in banking is not yet over. PacWest, Western Alliance and other mid-sized bank was down more than 15%.