The banking crisis is back!

First Republic Bank and Banco Santander suffered materially in yesterdays trading. Is the banking stress back? Stay on top of the situation with a FREE trial to Steno Research.

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The crisis seems to have resurfaced after Banco Santander and First Republic Bank reported first quarter results showcasing a deposit flight through Q1.

At the same time, the monthly change in the broad money supply in the US (M2) declined by 1.2% in March. This is a new all-time-record and completely unprecedented in modern monetary history.

This is a signal that monetary policy is TOO tight and this is the true root cause of the banking stress. The crisis is likely to worsen until central banks admit to it.

Stay on top of these developments at www.stenoresearch.com where we assess the ongoing banking stress with complete independence in our analysis.

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