So that's the choice, bankrupt banks or inflation

Neither are good options :roll_eyes:.

US inflation rises faster than expected, pressuring Federal Reserve amid market turmoil

Consumer prices rise as Fed weighs next move amid Silicon Valley Bank fallout

The inflation increase complicates the Federal Reserve’s next move amid market turmoil.

Underlying US consumer prices rose in February by the most in five months, an acceleration that leaves the Federal Reserve in a tough position as it tries to thwart still-rapid inflation without adding to the turmoil in the banking sector.

The consumer price index, excluding food and energy, increased 0.5 per cent last month and 5.5 per cent from a year earlier, according to Bureau of Labor Statistics data out Tuesday.

Economists see the gauge – known as the core CPI – as a better indicator of underlying inflation than the headline measure. The overall CPI climbed 0.4 per cent in February and 6per cent from a year earlier.

The median estimates in a Bloomberg survey of economists called for a 0.4 per cent monthly advance in the overall and core CPI measures.

The figures reaffirm that the Fed’s quest to tame inflation will be a bumpy one as the economy has largely proven resilient to a year’s worth of interest-rate hikes so far.

The challenge for the Fed now is how to prioritise inflation that is still far too high with growing financial stability risks in the unravelling of Silicon Valley Bank.

Just before the crisis came to fruition last week, chairman Jerome Powell had opened the door to re-accelerating the pace of rate hikes, but many economists now say the central bank will either stick with a smaller increase or pause entirely when it meets next week. One firm even says a rate cut could be in store.

Two-year Treasury yields, which are sensitive to Fed policy, rose to session highs while stock futures and the dollar fluctuated. Swaps traders maintained bets that the Fed will lift interest rates by 25 basis points at its meeting this month. – Bloomberg


SVB (and Kwartang’s little experiment) has taught us that inflation beating interest rate hikes come with a cost, the instability of financial institutions overexposed in “safe” bonds. So, a tricky balance has just become trickier.

Inflation is the current number one enemy but how many other banks have a dirty little bond loss secrets hidden away?

Inflation driven by the war in Ukraine continues to clobber the West, and yet none of our leaders are talking about peace. This is madness and it could easily get a lot worse. It’ll all end up anyway with Russia keeping Crimea and probably a chunk of Donbas too with innumerable lives lost and ruined and wholesale destruction in the meantime.

Would be nice to have a budget tomorrow that makes the markets give the Pound a little push up. And if the US could drop their interest rates a bit next week then that could help the £ too.

Oh look, I think I just saw a pig flying past the window :slight_smile: . I think the best we can hope for is no change, for now.

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nothing here that suggests that night be so unfortunately

Seems to focus more on getting people back to the workplace (which I guess could have a positive effect on the markets) - but don’t hold your breath!

Well at least it’s a free range one!

Love pork, but wish more people would get upset about the conditions in which most pigs are farmed. and learn to appreciate the difference. Same with salmon!

Incidentally, Karen there’s a new éleveur de porc traditionnel on Decaz’s Friday market and he’s not expensive either! He’s a young guy with a big stall right at the bottom of the market.

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Oh yes. So awful how most of them are kept. I’m lucky as I can get pork from a happy farm down the road, we just eat less of it which is probably healthier anyway.
I have pretty much stopped eating fish because either it’s wild and we just shouldn’t; or it’s farmed and we still shouldn’t, only for different reasons.

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The old saying about a full English breakfast… the chicken is involved but the pig is committed.

Me too - save the oceans!!!

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We eat lots of eggs because my industrious hens give us a good supply (look Daphne, they may say, those ghastly apes are stealing our eggs again) as well as getting moss out of the grass, weeding, being decorative and sweet and friendly :heart_eyes:

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Agree absolutely, but sardines are my go to fish - fresh, salted or canned. Lots of them around, great value, with healthy oils and always make me think of the Med. Fresh, they’re one of the tastes of summer while in winter tinned sardines with garlic, chilli and linguine is a favourite lunch. Incidentally, Casino stock ‘vintage’ sardines that have the year of canning on the tin, I tell myself they have a deeper flavour, but I’d probably fail a blind tasting test.

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They are fab, one of my guilty pleasures eaten straight out of the tin with a bit of bread for mopping. One of my daughters was in Portugal a couple of months ago and brought back the most delicious tinned sardines :slightly_smiling_face:

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And what about their little cousins, anchovies? In winter they add depth and umami to my bourguignon, while in summer they’re in salad dressings and anchoïade and marinades and all year round an essential pizza garnish. Handy little blighters (not to be confused with bloaters, though they’re very good too).

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Yes, and those fabulous little tinned fish you get in Denmark to put in your boiled egg. I do suffer depriving myself of fish for ethical reasons.
I cannot, however, live without nuoc mam (can’t do the diacritics).

We have two Dutch friends who divide their time equally between their place in the Netherlands and their maison secondaire in the Cantal, they’ve been bringing us jars of smoked Baltic sprats from a Turkish shop in Eindhoven(!), which are great for a slightly alternative form of kedgeree, if you don’t like the dyed French 'addock. However last week I found the exactly the same brand in an Algerian shop in Figeac where I buy my jars of harissa. A weird conjunction!

When I lived in the UK Arbroath smokies were the essential base for a kedgeree. Here the only undyed smoked haddock I’ve seen is in Toulouse market and that’s two hour drive from here. Will stick to smoked Baltic sprats.

I love that a thread on bad banks has turned into a joyous discussion of sprats and sardines!

:fish: :fish: :fish:

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That’s because there’s something fishy going on.

https://www.credit-suisse.com/about-us-news/en/articles/media-releases/csg-announcement-202303.html

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But its not the plaice for it, unless they’re sole traders

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and therefore small fish in a big pond…

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They spotted some “reporting irregularities”, which I think when translated from Swiss banker speak means “we have been caught cooking the books”. I think I can go to prison in Switzerland for writing that :joy:

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Not seen any Kippers round 'ere…

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