Banks halted on exchanges, while 2-year treasury yield plunges

Quick Take

• Signature slope halted aft dropping a grounds 22%, portion 30% down successful the past 5 days.
• Other banks person been halted, including First Republic and SIVB.
• SIVB is down 60%; these 3 banks person combined astir $500 cardinal successful deposits.
• SIVB fundraising has truthful acold failed, with deposit outflows outpacing the merchantability process.
• First Republic announced a superior rise of $125 million, stock terms continues to collapse.
• The two-year treasury output is down 45bps from yesterday’s high, which is the biggest two-day driblet since Lehman (2008)

2 Year Treasury: (Source: ZeroHedge)

The station Banks halted connected exchanges, portion 2-year treasury output plunges appeared archetypal connected CryptoSlate.