Member Info for BlueGlow

Am ever so pleased with PRD's RNS today, but jeez they are a tough crowd over there!

Timelines look great to me, everything in exactly the order in which i would prioritise too, which is vital to minimise/negate the need for more cash. BB has been asking for clarity, i duno, some people :)

Sorry just having a grumble here where its safe to do so lol.

Morning Older&Wiser

Is that comment directed at me?

If so, perhaps you misread, i said "its on" not "all in", just to clarify.

BTW, lots of respect for the views you share, across various BBs.

https://www.youtube.com/watch?v=XZ-EOg38t1o

Morning Troajan :)

Its on big time here !!!!

Derampers just got the mini-gun treatment :)

Metropolitan Bank Holding Corp. have issued a statement saying they" remains well capitalised".

Stock was down as much as 35% during the day, but has largely recovered after-hours.

The only bit of negative press is linked below, by an outfit called Vidar Research, whos "research", at first glance appears lacking in balance, with a disclaimer that they have a short position on the stock.

If the article was the cause of the days price action it shows just how jittery investors are!

https://vidarresearch.substack.com/p/metropolitan-commercial-bank-is-a

Metropolitan Bank Holding Corp is down over 20% today, i cant find any news to indicate why.

The sector / regionals opened marginallyl up, but it seems like whatever is going on with MCB has pulled them all lower.

After the initial dip a couple of weeks ago, MCB hasnt been as volatile as the likes of First Republic, Pacific West or Western Alliance, so this move looks a bit suspicous to me.

Saying all that, it could be one of those where if they did cut rates the market would panic, assume the situation with the banks must be horrendous, and panic some more lol.

Wonder if the Fed may be tempted to cut rates temporarily to help the banks?

They could Lift the federal insurance levels for bank deposits?

Making that announcement doesnt cost them a dime, and they are going to do it anyway in the event of a failure, so why not reassure depositors and steady the outflows from the regionals.

Looking at commodities, mostly everything is down sharply YoY, banks will be rebuilding their defences for a while, tighter lending will dampen growth. Does the Fed need to raise 25 or 50 bp now?

Same in U.S

Nasdaq, S&P 500 and Dow, all up marginally.

Havent read yet but sounds like UBS got them, $2 billion from what im reading.

Completely agree Trek.

The lump sum is the bait, to lure people into acceptance, with the promise of a quick money when they are desperate for help with the cost of living. A better and sustained % increase would be far more helpful for the workers, and the economy.

A bit like offering someone a cool bottle of water when they are thirsty, rather than the kit to make a well.

Lagarde- Our staff…have demonstrated in the past that they can also exercise creativity in very short order, in case it is needed to respond to what could be a liquidity crisis, if there was such a thing. But, this is not what we are seeing.

Meanwhile, ECB Vice President says some eurozone banks could be at risk from rate hike...

Recuse package for U.S bank First Republic being put together by majors, shares down heavily today, well over 20% last time i looked.

ECB raises interest rates by 50bp, slightly unexpected tbh.

Credit Suisse injests a $54bn loan from the Swiss central bank.

Lagarde states confidence in the eurozone banking sector.

Bank of England repeat, UK banking system not at risk.

The Swiss Financial Market Supervisory Authority FINMA and the Swiss National Bank have asserted that “the problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets”.

In a joint statement, after a day of chaos in the financial markets, FINMA and the SNB say:

The strict capital and liquidity requirements applicable to Swiss financial institutions ensure their stability.

Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks. If necessary, the SNB will provide CS with liquidity.

Big French banks:

Societe Generale -11.87%

BNP Paribas -9.85%

JB on GMB news making some interesting points on footballers taking the knee, the Royal family and equality more broadly.

https://www.youtube.com/watch?v=si7-xLPlnes

Sorry if any of what he says isnt correct, i dont know any better to caveat :)

Often find he has a different take on things and makes some thought provoking points.

His points better made here, in back and forth with Andrew Castle on LBC.

https://www.lbc.co.uk/radio/presenters/andrew-castle/john-barnes-why-do-we-accept-ukrainians-but-not-people-from-syria-and-iraq/

From Sky news , John Barnes, hes always worth listen imo.

https://news.sky.com/video/ex-footballer-john-barnes-says-the-conversation-should-not-be-about-gary-lineker-but-about-refugees-and-asylum-policy-12831964

Consumer prices rose 0.4% in February.

Headline inflation falling to 6%, from 6.4% a month earlier.

Core rate of inflation, which omits food and energy, rose 0.5%.

Core rate over the past 12 months slowed to 5.5% from 5.6%.

"The Fed is under pressure to stop raising rates, at least until the fallout from the SVB collapse is more clear. Some worry more banks could succumb if the Fed sticks to its plan. Yet the still-strong increase in core inflation in February makes it harder for the Fed to pause now."