MacroVoices #367 Luke Gromen: USD Update in the Wake of SVB Collapse
Macro Voices
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The Fed's Hiking Cycle
The failure of Silicon Valley Bank was caused by the Fed's hiking cycle, says Luke Gromman. It put banks in an uncomfortable position where they have to compete with treasury market and money market funds for funding as deposits go elsewhere looking for yield. The problem is that these were supposed to be high-quality liquid assets and they've been not so liquid and they are down on price," he adds.
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