Are Deutsche Bank and Charles Schwab Actually in Trouble or is it Just Doomporn?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 28 March 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ever since the failure of Silicon Valley Bank, markets have been waiting with bated breath for another shoe to drop. Coming into the weekend, it looked like Deutsche Bank and Charles Schwab were the most wobbly. NLW explores whether there is actually reason to be concerned or whether fintwit (and short sellers) are just looking for another mark. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Wong Yu Liang/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.

Transcript

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0:00.0	In the wake of one of the most tumultuous years in crypto history, the conversations happening at Consensus 2023 have never been more timely and important.
0:10.1	This April, CoinDest is bringing together all sides of the crypto, blockchain, and Web3 community to find solutions to crypto's thornyest challenges and finally deliver on the technology's transformative potential.
0:20.2	Join developers, investors, founders, brands, policymakers,, and more in Austin, Texas, April 26th to 28th for Consensus 2023.
0:27.8	Listeners of the breakdown can take 15% off registration with code breakdown.
0:32.3	Register now at Consensus.coindus.com and join CoinDesk at Consensus 20203.
0:44.8	Thank you. Zendesdust.com and join CoinDesk at Consensus 2023. Welcome back to The Breakdown with me, NLW.
0:49.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. The breakdown is produced
0:56.3	and distributed by CoinDesk. What's going on, guys? It is Monday, March 27th, and today we are
1:03.7	catching up on the latest dominoes in the banking crisis. Before we get into that, however, a quick note.
1:10.1	There are two ways to listen to the breakdown.
1:12.4	You can hear us on the Coin Desk podcast network feed, which comes out every afternoon and also
1:16.1	features other great CoinDesk shows, or you can listen on the breakdown only feed, which comes
1:19.9	out a few hours later in the evening. Wherever you're listening, I would so appreciate it if you
1:24.0	would take the time to leave a rating or review, it makes a huge difference.
1:28.7	All right, guys, happy Monday. Hope you had a wonderful weekend. As for markets and the economy,
1:35.2	this week is kicking off much the way the last one ended, which is, of course, to say that
1:40.0	all eyes are on the global banking crisis and the potential fallout of some decisions made last
1:45.8	week. Because of course, last week the biggest macro event was the FOMC's rate decision. Now,
1:51.3	going into that meeting, the market had priced the chance of a 25 basis point hike at about
1:56.3	73%. While that sounds like consensus, it was actually the lowest conviction the market had had around
2:02.8	a rate hike prediction in quite some time. Now, the reason there was less clarity was, of course,
2:07.6	that over the previous two weeks, the country had been engulfed in a banking crisis capstoneed
	...

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