Buy The Fed Pivot (BTFP)
Last night the Fed introduced a “Bank Term Funding Program” (BTFP)
Watch Bitcoin rally.
Last night the Fed introduced a “Bank Term Funding Program” (BTFP) that basically allows banks to receive loans that match the par value of their assets. Link Here. (Bullish blanket program)
Goldman just called off the March rate hike "in light of stress in the banking system."
Keeping it short: Regional banks below the $250B threshold were reporting their assets values differently and needed the money.
Contrary to popular belief: The fed made it expensive to be a bank. It is like having a bad student in class when the test is hard. They will be exposed
More banks will likely continue to fail despite the Fed’s intervention, but we now have a clear roadmap for how the government will manage them. (Basically insure all deposits)
Ordinary people will only bank with a bank that is too big to fail going forward. (BAC,JPM,C)
Google is still in an excellent spot. Along with NVDA on weakness.
Keep an eye out on Bitcoin
Bank Portfolios
Nothing to see here yet.
Yields have peaked for the time being and energy is confirming it.
Weakness in Google should be seen as opportunity.
Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC. Here
JPM is telling us to sell the rally tomorrow.
ASML’s upcoming restrictions on chip equipment exports will focus on "most advanced" chip manufacturing technology and do not pertain to all lithography tools. (Paid more to not ship to China)
Keeping this here.
Return always wants its risk payment. NOT INVESTMENT ADVICE.