Monday, July 24, 2023

What I Said

7/21/23 Daily Hodl:
"$78,000,000,000 Exits US Banking System in One Week As JPMorgan CEO Issues Alert on Deposit Flight...
"The deposit exodus follows a two-week period of relative stability in the system as big banks invest significant levels of cash to third party intermediaries to bring in new deposits.

"Banks are feeling the pressure to compete with higher yielding money market accounts."

From what the stock market is doing, I suspect a lot of that money is going into equities.

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