BlogsEnd of day report March 28th

French prosecutors raid banks over dividend tax evasion allegationsMorning Market Report – 29 March 2023

Darren Krett

Tuesday 28 March 2023

Share on:

Morning Market Report – 29 March 2023 facebookMorning Market Report – 29 March 2023 twitterMorning Market Report – 29 March 2023 linkedin

End of day report March 28th


closing report


- Fed's Bullard (non-voter) says financial stress can be contained with macro prudential tools, monetary policy is able to apply downward-pressure to inflation
- FBN's Gasparino, citing sources, tweets, "Even as shares of FirstRepublic (FRC) rebound mood inside the bank remains grim as the hole in its balance sheet is estimated at as high as USD 
- Fed's Barr (voter) says there is substantial discretion for the Fed to alter tailoring rules for big banks and for firms between USD 50-100bln of assets
- Lucid reportedly plans to lay off hundreds of workers, or 18% of the workforce, according to Business Insider citing sources
- House Republican leaders may not pass a budget before the debt limit deadline, according to Punchbowl's Sherman


A quieter day by comparison as the SVB dissection continues, with Vice Chairman Barr being grilled by congress today (& tomorrow), he preempted criticism by stating that "Fed supervisors issued six warnings “near the end of 2021” and in May 2022, they issued two more"...Barr continued today by saying, "On the morning of Friday March 10, “it appeared that it might be possible to meet the outflow that was expected the day before,” Barr said.
“But that morning, the bank let us know that they expected the outflow to be vastly larger based on client requests and what was in the queue. A total of $100 billion was scheduled to go out the door that day — the bank did not have enough collateral to meet that,” he added. That was in addition to the $42 billion in deposits that fled the bank in a six-hour period the day before
.Anyway, there will be more bank-related news out in the coming days that will undoubtedly decide if we will be back to focusing on inflation or if there are more skeletons in closets to increase the feelings of angst to panic levels...  

Market Snapshot


Today's numbers


On the ticket tomorrow


Related reads

Closing Report
End of day report March 23rd-image

Darren Krett

Thursday 23 March 2023

End of day report March 23rd

End of day report March 23rd


Comments (0)

Get started with Leviathan FM today

7 day free trialContact us
See our pricing

© 2015 - 2024 Leviathan Financial Management LLC. All Rights Reserved.

Legal Disclaimer: The information provided in the Leviathan website is for informational purposes only. It should not be considered legal or financial advice. You should consult with a financial advisor professional to determine what may be best for your individual needs. Leviathan Financial Management does not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. To the maximum extent permitted by law, Leviathan Financial Management disclaims any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses. Content contained on or made available through the website is not intended to and does not constitute legal advice or investment advice. Your use of the information on the website or materials linked from the Web is at your own risk.