Get Out Of Jail Free?
A week following three major US bank failures that then saw two other banks sail very close to the wind ended with stock markets higher, the S&P 500 was up 1.4% for the week and the NASDAQ closed 4.4% higher. Anyone who claims they can correctly predict this stuff is such a liar.
Monday was the largest trading volume day so far this year on US exchanges (a record that lasted until Friday, when it was surpassed) and saw a bloodbath for shares of many regional banks on the back of the failures of Silvergate, Silicon Valley Bank and Signature Bank amid fears of financial contagion (see…
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