Market Musings 260323: No let-up in banking stress, yet

Market Musings 260323:No let-up in banking stress, yetGold is potentially breaking out to a new all-time high…Summary:Friday Banking Freak-out: Deutsche Bank in the cross-hairsBond markets start to price the end of interest rate hikesStock markets are still trending higher in many cases…Gold is playing its role of a safe haven

Podcast this week:There are decades where nothing happens; and there are weeks where decades happen.What is the fallout from this current banking stress?Will there be a US recession?What’s been happening in bond markets?What about stock markets?Is this banking stress over?Why BNP Paribas is not changing its strategic views substantially.

Friday Banking Freak-out

Quite clearly, we are not anywhere near out of the woods with regards to banking stress, either in the US or in Europe.

Deposit outflows from US regional banks continues to be a big problem for the US banking sector, which numbers around 4000 banks in all (yes you may ask yourself the question: “why exactly do the Americans need so many banks?”)...

JPMorgan Chase amp; Co analysts estimate...