Silicon VB Steals NFP Stage
SVB Financial Group continues to get pounded overnight down 65%!
Investors continue to dump the bank and all of this is a result of depositors fleeing and the bank being forced to sell assets. This is the unintended consequence that Magnelibra has been warning for months given the NIM issues (Net Interest Margin) as investors utilize TreasuryDirect, MMMFunds and other much higher yielding products and leave traditional banking. Their models are outdated and their leverage is not worth the risk. You can read the full WSJ article here on the situation, SVB Financial Troubles
