Things got a little bit more hair-raising today with the VIX +10.3% and KRE, the regional banking ETF, trading down -6.3% in what looked like a bit of a panic move. PacWest (-28%), Western Alliance (-15%) and Zion’s (-11%) all tanked, which proved that the cleanup of FRC did not “stabilize the system” as Jamie Dimon had promised. It seems investors are focused on funding costs rising and the regulatory environment only getting more difficult from here, rather than the rescue mission. To further…
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