Bad banks. Bad data. Bad curves. Bad everything today as the crisis' next stage moves in.

Despite some relative calm yesterday after First Republic's failure, today was anything but as huge hedging in markets along with more turmoil in the broader banking sector. Bad economic data around the world reinforces the dangers of the 2008-style that continues to unfold right in front of us.

Eurodollar University's Money & Macro Analysis

Bberg: First Republic’s Demise Fails to Mark the All-Clear on Banks
https://www.bloomberg.com/news/articles/2023-05-01/first-republic-leaves-bank-world-still-seeking-all-clear-signal

NYT: Smaller U.S. Banks Say the Crisis Is Contained, but Fears Persist
https://www.nytimes.com/2023/04/24/business/regional-banks-crisis.html

ECB: The euro area bank lending survey - First quarter of 2023
https://www.ecb.europa.eu/stats/ecb_surveys/bank_lending_survey/html/ecb.blssurvey2023q1~22c176b442.en.html

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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.