gjj-To The Moon - Tiger Brokers Online Investing Community - To The Moon

Like
Comment
Favorite

xOxtMhxOx
2023-03-14

gjj

Slap Biden Yellen in the face? Inter-bank financing pressure explodes, and U.S. sovereign credit risk hits record high

拜登和耶伦都说银行系统有韧性，可三大指标都亮红灯。其中，基于一年期CDS的美国主权信用风险、也可称为美元贬值风险超过了2011年美国主权信用评级被标普降级时的水平。

Slap Biden Yellen in the face? Inter-bank financing pressure explodes, and U.S. sovereign credit risk hits record high

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Like

Report

Comment

Top
Latest

empty

No comments yet

Most Discussed

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":9949518898,"tweetId":"9949518898","gmtCreate":1678750331915,"gmtModify":1678750336691,"author":{"id":4093776112978220,"idStr":"4093776112978220","authorId":4093776112978220,"authorIdStr":"4093776112978220","name":"xOxtMhxOx","avatar":"https://static.tigerbbs.com/3f890216803cdf3b76e8ad5fa843f9e8","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":41,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>gjj</p></body></html>","htmlText":"<html><head></head><body><p>gjj</p></body></html>","text":"gjj","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9949518898","repostId":2319192030,"repostType":4,"repost":{"id":"2319192030","kind":"highlight","pubTimestamp":1678750283,"share":"https://ttm.financial/m/news/2319192030?lang=en_US&edition=fundamental","pubTime":"2023-03-14 07:31","market":"hk","language":"zh","title":"Slap Biden Yellen in the face? Inter-bank financing pressure explodes, and U.S. sovereign credit risk hits record high","url":"https://stock-news.laohu8.com/highlight/detail?id=2319192030","media":"华尔街见闻","summary":"拜登和耶伦都说银行系统有韧性，可三大指标都亮红灯。其中，基于一年期CDS的美国主权信用风险、也可称为美元贬值风险超过了2011年美国主权信用评级被标普降级时的水平。","content":"<p><html><head></head><body>Both Biden and Yellen said the banking system was resilient, but all three major indicators were red. Among them, the U.S. sovereign credit risk based on one-year CDS, also known as the risk of dollar depreciation, exceeded the level when the U.S. sovereign credit rating was downgraded by Standard & Poor's in 2011. Although U.S. President Biden and Treasury Secretary Yellen both said that the domestic banking system is resilient, all three major indicators turned red.</p><p>One of these is the FRA-OIS spread. It rose to its highest level before the Lehman Brothers crisis except during COVID-19 pandemic, highlighting the sharp rise in credit risk for systemic banks.</p><p>Wall Street News has mentioned that FRA-OIS is one of the most important indicators reflecting the financing tight situation in the interbank market and money market risks. It is also an important pressure indicator that Federal Reserve Powell is also paying close attention to every rise. It is regarded as the market's indicator of how expensive or cheaper banks' future borrowings will be compared with risk-free interest rates, such as the US Treasury Bond interest rate.</p><p>The last time FRA-OIS rose to such a high level was at the beginning of the U.S. COVID-19 pandemic in March 2020. At that time, the Federal Reserve launched a trillion-dollar stimulus program to rescue the market, bought corporate bonds on a large scale, and restarted trillions of dollars. dollar QE.</p><p><img src=\"https://static.tigerbbs.com/d0397db724f706ac6a4b28e19b04735f\" tg-width=\"1024\" tg-height=\"583\" referrerpolicy=\"no-referrer\"/>Lyn Graham-Taylor, senior interest rate strategist at Dutch bank Rabobank, commented that it is unrealistic to think that banks don't have a sharper judgment about who they lend. In the United States, there are relatively restrictions. Of course, when people look at each other's business models and wonder if one is having problems, the banking system will come under pressure.</p><p>Another indicator, the average cross-currency basis swap, measures global dollar liquidity, which has narrowed significantly over the past two trading days as companies hoard dollars. This shows that the whole world is looking for cash and is willing to pay cash to be reflected in its own balance sheet.<img src=\"https://static.tigerbbs.com/4ca2dbd0e9d148bbe70d0ce4a59dcf7f\" tg-width=\"1024\" tg-height=\"559\" referrerpolicy=\"no-referrer\"/>The last indicator is the US sovereign credit risk based on the one-year US credit default swap (CDS) spread, which can also be called the depreciation risk of the US dollar. It has reached a record high, exceeding the level of the U.S. sovereign credit rating when S&P downgraded in 2011 and the peak of the federal government shutdown in 2013.<img src=\"https://static.tigerbbs.com/d10baf37bca6bc51a8e99ef75e996c05\" tg-width=\"1024\" tg-height=\"579\" referrerpolicy=\"no-referrer\"/>Piet Christiansen, chief analyst at Danske Bank, commented that the trend we are seeing now is more like a hint of pressure than anything else.</p><p>Financial blog Zerohedge thus warned Biden and Yellen that the banking system is not fine, but is in trouble. This may be why cryptocurrency, the so-called alternative currency, rose sharply this Monday.</p><p>In early trading of U.S. stocks on Monday, the trading price of Bitcoin regained the $24,000 mark, the first intraday test of $24,600 since late February, up nearly $3,800, or about 18%, from the intraday low in early Asian trading.<img src=\"https://static.tigerbbs.com/17f70170302eac408d91bed3b786cd79\" tg-width=\"1024\" tg-height=\"584\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Slap Biden Yellen in the face? Inter-bank financing pressure explodes, and U.S. sovereign credit risk hits record high</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSlap Biden Yellen in the face? Inter-bank financing pressure explodes, and U.S. sovereign credit risk hits record high\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2023-03-14 07:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Both Biden and Yellen said the banking system was resilient, but all three major indicators were red. Among them, the U.S. sovereign credit risk based on one-year CDS, also known as the risk of dollar depreciation, exceeded the level when the U.S. sovereign credit rating was downgraded by Standard & Poor's in 2011. Although U.S. President Biden and Treasury Secretary Yellen both said that the domestic banking system is resilient, all three major indicators turned red.</p><p>One of these is the FRA-OIS spread. It rose to its highest level before the Lehman Brothers crisis except during COVID-19 pandemic, highlighting the sharp rise in credit risk for systemic banks.</p><p>Wall Street News has mentioned that FRA-OIS is one of the most important indicators reflecting the financing tight situation in the interbank market and money market risks. It is also an important pressure indicator that Federal Reserve Powell is also paying close attention to every rise. It is regarded as the market's indicator of how expensive or cheaper banks' future borrowings will be compared with risk-free interest rates, such as the US Treasury Bond interest rate.</p><p>The last time FRA-OIS rose to such a high level was at the beginning of the U.S. COVID-19 pandemic in March 2020. At that time, the Federal Reserve launched a trillion-dollar stimulus program to rescue the market, bought corporate bonds on a large scale, and restarted trillions of dollars. dollar QE.</p><p><img src=\"https://static.tigerbbs.com/d0397db724f706ac6a4b28e19b04735f\" tg-width=\"1024\" tg-height=\"583\" referrerpolicy=\"no-referrer\"/>Lyn Graham-Taylor, senior interest rate strategist at Dutch bank Rabobank, commented that it is unrealistic to think that banks don't have a sharper judgment about who they lend. In the United States, there are relatively restrictions. Of course, when people look at each other's business models and wonder if one is having problems, the banking system will come under pressure.</p><p>Another indicator, the average cross-currency basis swap, measures global dollar liquidity, which has narrowed significantly over the past two trading days as companies hoard dollars. This shows that the whole world is looking for cash and is willing to pay cash to be reflected in its own balance sheet.<img src=\"https://static.tigerbbs.com/4ca2dbd0e9d148bbe70d0ce4a59dcf7f\" tg-width=\"1024\" tg-height=\"559\" referrerpolicy=\"no-referrer\"/>The last indicator is the US sovereign credit risk based on the one-year US credit default swap (CDS) spread, which can also be called the depreciation risk of the US dollar. It has reached a record high, exceeding the level of the U.S. sovereign credit rating when S&P downgraded in 2011 and the peak of the federal government shutdown in 2013.<img src=\"https://static.tigerbbs.com/d10baf37bca6bc51a8e99ef75e996c05\" tg-width=\"1024\" tg-height=\"579\" referrerpolicy=\"no-referrer\"/>Piet Christiansen, chief analyst at Danske Bank, commented that the trend we are seeing now is more like a hint of pressure than anything else.</p><p>Financial blog Zerohedge thus warned Biden and Yellen that the banking system is not fine, but is in trouble. This may be why cryptocurrency, the so-called alternative currency, rose sharply this Monday.</p><p>In early trading of U.S. stocks on Monday, the trading price of Bitcoin regained the $24,000 mark, the first intraday test of $24,600 since late February, up nearly $3,800, or about 18%, from the intraday low in early Asian trading.<img src=\"https://static.tigerbbs.com/17f70170302eac408d91bed3b786cd79\" tg-width=\"1024\" tg-height=\"584\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3683936\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7394d2f7cb0b2ac235f655075de81caa","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://wallstreetcn.com/articles/3683936","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2319192030","content_text":"拜登和耶伦都说银行系统有韧性，可三大指标都亮红灯。其中，基于一年期CDS的美国主权信用风险、也可称为美元贬值风险超过了2011年美国主权信用评级被标普降级时的水平。虽然美国总统拜登和财长耶伦都说国内银行系统有韧性，但三大指标都亮了红灯。其中之一是FRA-OIS利差。它升至除新冠疫情期间以外的雷曼兄弟危机前最高水平，凸显了系统性银行的信用风险急剧上升。华尔街见闻曾提到，FRA-OIS是体现银行间市场融资紧张状况以及货币市场风险的最重要指标之一，也是美联储鲍威尔也在密切关注其每次上升的重要压力指标。它被视为市场衡量银行未来借款相比无风险利率、如美国国债利率有多贵或多便宜的指标。上一次FRA-OIS升到如今这样的高位是在2020年3月美国新冠疫情爆发之初，当时美联储推出了上万亿美元规模的刺激项目救市，大举买入公司债，并重启了数万亿美元的QE。荷兰银行Rabobank的高级利率策略师Lyn Graham-Taylor评论称，认为银行对借贷对象没有更敏锐的判断力是不现实的。在美国，相对而言有限制。当然，当大家互相审视彼此的商业模式，想知道是否哪一家遇到问题时，银行系统就会面临压力。另一个指标——平均交叉货币基差互换衡量的是全球的美元流动性，过去两个交易日，由于企业囤积美元，这种基差已经大幅收窄。这体现了，全世界都在寻求现金、并愿意支付现金反映在自己的资产负债表上。最后一个指标是基于一年期美国信用违约互换（CDS）利差的美国主权信用风险，也可以把它称为美元的贬值风险。它已经创历史新高，超过了2011年美国主权信用评级被标普降级和2013年联邦政府关门高峰期时的水平。丹麦银行Danske Bank的首席分析师Piet Christiansen评论称，我们现在看到这个走势更像是在暗示压力，而不是其他任何情况。金融博客Zerohedge由此警告拜登和耶伦，银行系统不是没问题，而是要出麻烦了。这也许就是加密货币这种所谓替代性货币本周一大涨的原因。周一美股早盘时段，比特币交易价重上2.4万美元关口，自2月下旬以来首次盘中上测2.46万美元，较亚市早盘的日内低位涨近3800美元、涨约18%。","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".IXIC":0.9,"ZNmain":0.9,"TNmain":0.9,"UBmain":0.9,"ZBmain":0.9,"ZFmain":0.9,"ZTmain":0.9}},"isVote":1,"tweetType":1,"viewCount":2486,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}