FTXO News and Press, First Trust Nasdaq Bank ETF From 05/08/23

2023-05-08 13:20:00 ET Summary In my last post, I looked at banking as a business, and used a simple banking framework to advance the notion that the key ingredient tying together the banks that have failed so far in 2023 is an absence of stickiness in deposits, created partially by d...

2023-05-08 03:00:00 ET Summary The unfolding banking crisis ensures tighter credit for an economy already downshifting. Stocks (and other asset markets) feast on distorted low market yields. The system faces an extremely challenging adjustment period. Today's banking crisis is...

2023-05-07 04:05:00 ET Summary Whenever the dominant investment narrative shifts, asset correlations tend to change as well. Conditions shifted abruptly with the Silicon Valley Bank failure. Suddenly, inflation seemed less of a threat and investor fears pivoted back towards recess...

2023-05-07 03:46:00 ET Summary In March 2023, the fall of Silicon Valley Bank shocked investors not only because it was unforeseen, but also because of the speed with which it unfolded. While we can differentiate between good and bad banks and some of these differences are driven ...

2023-05-06 02:00:00 ET Summary There is a thread running between the three crises being felt in the US right now. There are a number of indicators that we can track to help assess where we are and where we are likely to get to. The genesis of bank stresses in part reflects the...

2023-05-05 21:30:00 ET Summary Jay Powell couldn’t say outright that the Fed is done with raising rates, but he performed an exceptionally clear pantomime of saying exactly that during the post-FOMC press conference on Wednesday. Powell did sound reasonably upbeat about the...

2023-05-05 13:20:00 ET Summary I do not think our banking crisis is over. Much of this centers on the Fed raising rates too far and too fast, which is causing all kinds of havoc, especially our community and regional banks. All the members of the KBW Bank Index, including some of ...

2023-05-04 15:47:00 ET Summary Why U.S. bank earnings suggest a modest recession? Potential impact of regional bank failures on the broader markets. When it comes to market uncertainty, is reality actually better than perception? The latest U.S. earnings seas...

2023-05-04 12:00:00 ET Summary What are bond markets telling us about future Fed policy? How does the Fed navigate the numerous crosscurrents in the financial markets and economy? What's the outlook on the US dollar? The U.S. Federal Reserve delivers another ...

2023-05-03 23:55:00 ET Summary The collapse of small banks is not surprising. But what’s happening today is accelerating the process. The basic gist of this acceleration is multi-faceted: the government has implicitly supported small banks; and explicitly supported big bank...