Bank Defaults Spark Financial Fears
March 13, 2023
There has been a lot of speculation and chatter over the weekend as the news of the Silicon Valley Bank default circulating in the news and on social media. It appears at this point that the Fed is going to do all they can to back the deposit and make sure all the customers are protected. The markets are certainly subject to headline news risk as we begin and new week and that fact that my perception is my reality. The headline news make spark some fear and lead to some wild market action but overall, when all is said and done the markets will survive this current even. But volatility could be higher this week as again headlines put some uncertainty in things. We also will get the CPI and PPI index updates this week which will help the Fed on their next rate move.
Well, the energy markets are selling off this morning as the fear of a financial crisis is in the market after the failure of the Silicon Valley Bank. Money is likely being moved as the news and events around SVB hit the market as we start a new week. The financial impact of all these things will be in the news and keep the markets on their toes.