Interestingly, Treasury Direct was down yesterday. The website allows investors to quickly move large sums from banks into US Treasury holdings. I doubt this story ends with SVB, as the current inverted yield curve is a total disaster for banks. Large accounts will not keep their money in a bank yielding 2% if they can get over 4% from the Treasury.
Interestingly, Treasury Direct was down yesterday. The website allows investors to quickly move large sums from banks into US Treasury holdings. I doubt this story ends with SVB, as the current inverted yield curve is a total disaster for banks. Large accounts will not keep their money in a bank yielding 2% if they can get over 4% from the Treasury.