What the Hell Just Happened?
Real Vision: Finance & Investing
KBW NASDAQ Bank Index - What's This About?
The plunge into your treasury yields is the most severe since 2008. The Federal Deposit Insurance Corporation in February reported that US banks unrealized losses on available for sale and held to maturity securities totaled $620 billion as of December 31st up from $8 billion a year before the Fed's rate push began. QT really pushes duration out into the market as the Fed lets MBS roll off and balance sheet in treasuries. And the market has a tough time digesting that duration. Silicon Valley bank really, they're on the forefront of both rate hikes and QT. It's about much more obviously than just one bank.
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