MarketWatch/Joy Wiltermuth/5-3-2023
“It just seems to me that deposits are going to keep drifting out.…I don’t really see what’s going to make it stop, unless the Fed is going to cut interest rates, which there’s no inclination of cutting interest rates at the next meeting.” – Jeff Gundlach, DoubleLine Capital
USAGOLD note: Much wisdom in Gundllach’s view……It is difficult to see how the stresses at the banks can be relieved without a drop in interest rates that would in turn raise the par value of their Treasury holdings.
