HNewsWire:
Yesterday it was NYCB that grabbed the headlines and spoiled Powell’s day.
As we detailed here (and here), the banking crisis never went away and it now appears the rest of the market realizes that too as Regional Bank shares are extending their losses significantly today…
This morning saw the US CRE crisis go global as Aozora Bank faced the music on its balance sheet folly.
NYCB is extending losses (well below SVB lows)…
Western Alliance Bancorp is getting clubbed like a baby seal today…
Shares of Zions Bancorp, Comerica and Webster Financial are also tumbling along with Citizens Financial, Regions Financial, SouthState, Prosperity Bancshares, Schwab, PacWest, and Huntington Bancshares…
The market appears to be finally pricing in the end of the BTFP, and all the chaos that will ensue from that, as the risk perception has spread to the whole sector. Regional bank shares are puking hard today…
But, but, but, …