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Heresy Financial
Apr 27, 2023
The second wave of bank failures may have just begun. First Republic Bank shares have hit a new low after plunging almost 95% from their previous levels, with analysts telling investors they recommend selling their shares. Meanwhile, a credit crunch is slowly starting as it rolls through the country. And finally, banks across America are at risk due to the commercial real estate crisis, with offices all over the country half empty.
Anyone invested or exposed to commercial real estate, even pensions is in trouble, as you might expect. This means depositors continue to flee banks they perceive to be at elevated risk, moving into higher-yielding instruments instead.
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