The Effects of Liquidation on Banks

All banks have essentially a carry trade, which makes them effectively long duration. So it's like, you know, if everything was still marked at par and hey, we got some deposit outflows will like go sell some stuff at par,. But the issue is, when your loans not being tradable at par going forward below par, there's nothing to liquidate. And we saw like the stair step, right? Like SVB, theyLiquidated things in the fall, they liquidated some more things in January. The West seemingly people are happy that they were able to liquidate a handful of assets.