Posted on 03/15/2023 5:01:27 PM PDT by rxsid
JUST IN: First Republic Bank, the San Francisco-based lender that was cut to junk by S&P and Fitch, is exploring strategic options including a sale https://t.co/fRG03oAtZG pic.twitter.com/p5vSNmnTnd— Bloomberg (@business) March 15, 2023
...creditors said further downgrades are possible as First Republic faces deposit outflows that could affect its liquidity and ramp up wholesale borrowing.
“The bank’s business position will suffer after the volatile swings in its stock price and heightened media attention surrounding deposit volatility,” S&P analysts Nicholas Wetzel and Rian Pressman wrote. “Its business stability has weakened as market perceptions of its creditworthiness have declined.”...
So, nothing that we know of other than just fear uncertainty and doubt. And a declining stock price which feeds into that FUD.
Just wonderful.
Woke is junk status now.
Hey, lighten up on Cramer. He’s my reverse trading strategy. I don’t want him to lose his job. I need his anti-wisdom.
For a bank, though, it is a rare situation from which a bank can bounce back (but not impossible). Where this may facilitate First Republic's demise, is that most treasurers have a policy forbidding depositing money with banks below BBB-. In addition, guarantees issued by First Republic may be rejected by many firms.
Buy SJIM ... The inverse Cramer ETF ...
There is lots of turmoil in the markets and as an avid player in all sorts of the markets the future does not look good.
I was principally concerned about the drop in crude oil prices today.
Are we in a world wide recession? I see no indications that the drop in oil prices is being caused by too much production and is more likely caused by not enough demand.
You gotta wonder how long CNBC is going to carry him. I don’t have cable so I only see a video of him here and there. I can’t imagine Cramer’s audience taking him seriously any longer. Cramer has become a paradox of himself.
We gotta get Wilson, and tell him to sell.😄😄
Junk Status = Libtard Status= Great Reset
When money is free, don’t buy bonds!
Yup. Fitch and S&P just greased the skids. FRC is not long for this world.
Ruh Ron
Some p.o.c. are expecting 5 mil apiece,,,
see gavin run,, see nanzi run,,, see spot run,,,
Oh well.
A lot can happen since last June; it had a C on capitalization:
https://www.depositaccounts.com/banks/first-republic-bank.html#health
Oh...
I thought it read FREE Republic bank. Never mind.
Gas in central Indiana jumped 40¢ yesterday - a 13% increase
But...but...Joe said the economy was doing great, unlike when Trump was president. He wouldn’t lie to us now, would he?
Probably switching over to summer grade. Blame the eco-maniacs for that.
The price for a barrel of oil has been steadily dropping - now below $70. Very deflationary.
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