The Alpha Exchange Q1 2023 Review
Alpha Exchange
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The World of Risk in the First Quarter of 2023
The stress test imposed on banks contemplated a greater economy and the credit risk of loans gone bad. They did not, however, contemplate the losses from buying duration in out landishly overvalued risk-free bonds. Apparently Bill grosses idea to shake hands with the Fed and buy what it is buying did not work out for Silicon Valley Bank.
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