Uddrag fra Steno Research:
The crisis seems to have resurfaced after Banco Santander and First Republic Bank reported first quarter results showcasing a deposit flight through Q1.At the same time, the monthly change in the broad money supply in the US (M2) declined by 1.2% in March. This is a new all-time-record and completely unprecedented in modern monetary history.
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This is a signal that monetary policy is TOO tight and this is the true root cause of the banking stress. The crisis is likely to worsen until central banks admit to it.
