My dear old mate Father Bob Maguire has gone to meet his maker today. He fought a good fight. We had so many laughs together over the tears and he did so much good for so many. A genuine hero. Vale, my friend.
Current List of Companies With Silicon Valley Bank, $SIVB, Deposits:
1. Circle: $3.3 billion
2. Roku: $487 million
3. BlockFi: $227 million
4. Roblox: $150 million
5. Ginkgo Bio: $74 million
6. iRhythm: $55 million
7. Rocket Lab: $38 million
8. Sangamo Therapeutics: $34 million
9. Lending Club: $21 million
10. Payoneer: $20 million
The worst part?
These are only the companies that have disclosed their exposure SO FAR.
SVB has nearly $200 billion in deposits with 97% of those deposits above the $250,000 FDIC limit.
This can't end well.
This beautiful horse understands it’s a young hooman and is gentle and calm💙
Credit: @Viralhog
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Queenslanders are facing a bigger bill to visit a GP with doctors claiming they have no choice but to increase fees. The price hike is being put down to a tax charged by the state government, that's set to be passed on to patients. https://t.co/fIy7ioV2es @JoelDry7 #7NEWS
Compassion is the source of true joy, peace and happiness. It is the foundation of a good heart, the essence of a meaningful life, and the fundamental principle for creating a better world.
Reasons why the #Fed wishes to temper the #markets' enthusiasm about the latest #inflation data:
One month doesn't make a trend;
Too fast an endogenous loosening of financial conditions complicates the policy outlook; and
Certain elements of the inflation picture remain worrisome
.@WSJ:
Americans are increasingly turning to their credit cards as they balance rising prices and strong demand for goods and services... Revolving credit...increased at an annual rate of 8.7% to $1.162 trillion in September...the highest level on record" (not inflation adjusted)
.@markets on Bank of America’s flow data: The “Rush to Cash Is Now at Fastest Pace Since Pandemic.”
What is not clear is how far this phenomenon has run/can run … which, of course, is critical for determining when this negative technical turns into a positive one for #markets.
That’s quite a rebound in the price of oil. If sustained, it will start pressuring the presumption that headline inflation will maintain its downward trajectory into the end of the year — this at a time when core inflation is still rising.
#oil#economy#markets#inflation