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The 2nd Coming of Gold and Don’t Worry the Banks Are Safe (For Now) — Nick Santiago 3-20-23 #476

The 2nd Coming of Gold and Don’t Worry the Banks Are Safe (For Now) — Nick Santiago 3-20-23  #476
Mar 20, 2023 · 16m 7s

1. The financial stocks are rebounding today after UBS buys Credit Suisse. This comes after the Swiss National Bank bailed out Credit Suisse last Friday. The Federal Reserve announced a...

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1. The financial stocks are rebounding today after UBS buys Credit Suisse. This comes after the Swiss National Bank bailed out Credit Suisse last Friday. The Federal Reserve announced a coordinated central bank action with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank to enhance provision of U.S. dollar liquidity.
This Wednesday, the FOMC will make their interest rate policy decision for the US. At this time, the market is expecting the central bank to raise by 25 bps. Some firms are expecting the fed to pause, but I'll stick with the 25 bps hike.
Either way, today the big winners are bank stocks and the losers are soem big cap tech safe havens that ran last week.

2. Gold is slipping a little today, that tells me that the fear is leaving the market a little today. Gold has gone up in parabolic fashion recently telling us that that is the real safe haven as people lose faith and confidence in the system.
Silver was not as strong as gold during this crisis, but there will be a solid opportunity in silver after it settles back down.

3. Crypto remains strong as Bitcoin rallies higher again. There should be a little more to go in Bitcoin before it stalls out. Investors are looking at Bitcoin as an alternative to banks, but I do not think that lasts.
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