NY Community Bancorp Flashes a $560 Billion Real Estate Warning for Banks
- Thread starter Nighthawk
- Start date
$BKX looks like it shows someone got a "Bluehorse" heads-up yesterday late afternoon:-
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Some more details...
New York Community Bancorp’s credit rating downgraded to junk on real estate concerns
https://www.cnn.com/2024/02/06/business/moodys-downgrades-new-york-community-bancorp-junk/index.html
(Axios)
Charted: Regional banks hanging in
Data: FactSet; Chart: Axios Visuals
Broad indexes tracking the shares of regional banks are showing little sign of a steep selloff at the moment, Matt writes.
Why it matters: It means the market appears to be treating the saga of New York Community Bancorp as an isolated event, at least so far.
The bottom line: There's no sign of a broad-based flight from smaller bank stocks that we saw after the failure of Silicon Valley Bank back in early 2023.
Charted: Regional banks hanging in
Data: FactSet; Chart: Axios Visuals
Broad indexes tracking the shares of regional banks are showing little sign of a steep selloff at the moment, Matt writes.
Why it matters: It means the market appears to be treating the saga of New York Community Bancorp as an isolated event, at least so far.
The bottom line: There's no sign of a broad-based flight from smaller bank stocks that we saw after the failure of Silicon Valley Bank back in early 2023.
- On the other hand, the share prices of regional banks haven't recovered much since the SVB panic and the issues emerging with NYCB aren't helping much.