“Scramble for collateral, collateral runs, banks de-risking and acts on the lessons of Bear Stearns” - Jeff Snider @ Eurodollar University
“Scramble for collateral, collateral runs, banks de-risking and acts on the lessons of Bear Stearns” - Jeff Snider @ Eurodollar University
More extreme hedging swept global markets in morning trading, including another serious collateral run. As it did, curves have been distorted to an even more concerning degree than they had been when banks like SVB and Credit Suisse were all over the mainstream. Examining Credit Suisse we can begin to understand why.
Eurodollar University's Money & Macro Analysis
Credit Suisse’s Fatal Bank Run Points to Gaps in Liquidity Rules
https://www.bloomberg.com/news/articles/2023-04-05/credit-suisse-s-fatal-bank-run-points-to-gaps-in-liquidity-rules
Credit Suisse Group takes decisive action to pre-emptively strengthen liquidity and announces public tender offers for debt securities
https://www.credit-suisse.com/about-us-news/en/articles/media-releases/csg-announcement-202303.html
Basel III: The Liquidity Coverage Ratio and liquidity risk monitoring tools
https://www.bis.org/publ/bcbs238.htm
Dexia books losses on Belgian unit, Greek bonds
https://www.wsj.com/articles/DJFDBR0020111109e7b9ds7cf
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Jeffrey Snider (The Promoter) is acting as a promoter for an investment advisory firm, Atlas Financial Advisors, Inc. (AFA). Jeffrey Snider is affiliated with AFA as a promoter only and is not in any way giving investment advice or recommendations on behalf of AFA. The Promoter is being compensated by a fee arrangement: The Promoter will receive compensation on a quarterly basis, based on the increase in account openings that can be reasonably attributed to the Promoter's activity. The Promoter will not be receiving a portion of any advisory fees. The Promoter has an incentive to recommend the Adviser because the Promoter is being compensated. The opinions expressed on this site and in these videos are those solely of Jeffrey Snider and Eurodollar University and do not represent those of AFA.