Ask Me Anything about the week to March 24

Paying subscribers can ask Bernard Hickey about the week’s news, including the US & Swiss banking crises, the softening outlook for interest rates, the latest poverty & housing stats, & #auxit

Photo by Josh Mills on Unsplash

It’s that time of the week for an ‘Ask Me Anything’ session for paying subscribers about the week that was for the next hour, including:

• The runs on Silicon Valley Bank and First Republic Bank on the west coast of the United States that forced the US Treasury, FDIC and Federal Reserve to intervene to promise full payouts to depositors, over and above the US$250,000 deposit guarantees legislated for, and lend tens of billions to banks to keep them liquid;

• The orchestrated rescue and takeover of Credit Suisse last weekend by Swiss authorities working together in a frantic effort with UBS to stop the Swiss banking system from collapsing;

• Rate hikes in the United States, Britain, Switzerland and Norway, but a softening of market interest rate expectations because of the banking crises;

• Statistics showing little improvement in child poverty and a worsening of the stress on renters, even more so than the stress on mortgage servicers;

• the Reserve Bank’s fresh warning to firms and workers not to push for higher real wages and profits in anticipation of higher inflation;

• Auckland Mayor Wayne Brown’s casting vote for Auckland Council to pull out of LGNZ; and,

• TOP’s launch of a Teal Card and plan to stay out of ministerial roles and not agree to both supply and confidence for either of the main parties.

That’s it. Fill yer’ boots. I’m here for the full hour. Jump into the comments to ask questions.

Cheers

Bernard