The flow of funds continues into retail money-market accounts and banks’ usage of The Fed’s bank bailout fund remains at record highs (above $100 billion), but tonight we get to see The Fed’s latest efforts in obfuscation and seasonal-shenanigans about US banks’ deposits and loans.
Seasonally-adjusted, total deposits plunged $78.7 billion last week – the biggest weekly ‘run’ since March 22nd (right after SVB) … Source: Bloomberg
And, for a nice change, non-seasonally-adjusted total deposits agreed, with a $90 billion deposit disappearance… Source: Bloomberg Which means the divergence between money-market funds and bank deposits starting to close… Source: Bloomberg […]
Read the rest of this story here: www.zerohedge.com
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