2023-03-29 04:53:00 ET
Summary
- For the week ending March 10, the top six U.S. large money center banks lost approximately 14% in market value; U.S. super-regionals lost around 26% in value; and smaller regionals lost over 30% in market value.
- Despite the sell-off in European bank shares, we see little similarity between the drivers of the U.S. and European banking crises.
- Given our bearish outlook for the U.S. economy and the U.S. dollar, we generally remain more constructive on global equities.
For further details see:
A Banking Crisis That Was Not Supposed To Happen