MacroVoices #372 David Rosenberg: The Bear Market Bottom Is Not In
Macro Voices
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The Fed's Decline in Commercial Real Estate
The banks are going to be raising their loan loss provisioning and they're going to be restricting access to credit. The situation that evolved with Silicon Valley bank is a reminder to the banking sector at large that their capital is precious. I don't think we're going to have a massive 0809 event, but there is going to be a near-term impact in terms of a constriction of bank credit coming out of this.
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