Perhaps. I put NO value a car other than safety and reliability, and I have that in my 2022 AWD (switch to 4WD with push of a button) Hyundai Kona and the two other cars I have too. Whether I ever have a nicer car than the types I typically buy (Hyundai, Honda, Toyota), is only a choice at this point. I don't see ever wanting to buy anything beyond those types of great mass-produced cars.
Other than Pomboy being right on the Tweet I posted, I have no other dog in the fight.
On another note, FRC traded down in the aftermarket as reports of a rescue deal would require government backstop.
FRC now up on the day (wednesday)
This just doesn't feel like a systematic bank crisis....wouldn't we be hearing about more problems if it were systemic? Although I suppose a few days don't mean much, and pacwest is under fire now.
I believe any banking crisis is just another of the Fed making. That said, a bigger hurdle for the market will be dealing with falling EPS, tighter financial conditions, and downgrade to 2024 Forward S&P 500 estimates, with resulting multiple contraction. So a double whammy, falling EPS, and lower multiple. Even a downgrade of 2024 to $200 times 16 multiple gets you 3,200. That is nothing, even optimistic downside, and corresponds to Morgan Stanley view.
This post was edited 1 minute after it was posted.
I believe any banking crisis is just another of the Fed making. That said, a bigger hurdle for the market will be dealing with falling EPS, tighter financial conditions, and downgrade to 2024 Forward S&P 500 estimates, with resulting multiple contraction. So a double whammy, falling EPS, and lower multiple. Even a downgrade of 2024 to $200 times 16 multiple gets you 3,200. That is nothing, even optimistic downside, and corresponds to Morgan Stanley view.
tonight is my night to cook for chez agip. I'm thinking arroz con pollo.
After a run to chill my fried brain.
Out for a run after the post market CNBC shows. Wife planning to grill some chicken with pasta or rice. So similar to your dish. My wife let me cook one meal the first week of marriage, and that ended that 48+ years ago.
This truly was a dovish hike... Even though markets put an 85% chance on this outcome occurring, the 2 year bond yield is down 20bp since the Fed statement was released & the presser began.