A "crisis" gives folks a chance to jump to the head of the pack.
In the SVB fiasco today, the individual that is really, really shining: Sara Eisen.
Good for her.
She gets it.
She knows how bad this is going to get.
While "everyone" else is still asking whether this is a "one-off" and whether JPow has to pivot, she has already answered that question:
- this is not a one-off; and,
- a rate increase of 50 basis points in March, 2023, is now off the table.
This is not a one-off: already several other regional banks are showing huge losses in their share prices, and, worse, there are indications that folks are going to their bank today -- a Friday, by the way -- to pull their money out of their savings accounts and put it into CDs or Treasuries.
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Will This Bank Failure Affect Rivian's Offer?
Rivian's offering:
- $1.3 billion
- 4.625%
- will settle March 10, 2023
- due 2029
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