Worse off. All banks were scooping up more bonds in 2020. Those bonds are sitting at a roughly -40% unrealized loss.

I'm expecting that unless the bond market recovers, which it won't if the Fed is going to keep rates higher for longer, we will soon see some smaller regional banks go tits up and get bought out by the big 4.

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Okay so basically they are sitting on a plank but haven’t walked off yet . Wen

Good way to put it. Their balance sheets are atrocious right now and wealthy depositors have been transferring funds into money market accounts and things like that due to attractive rates.

Oh yeah the “5% apy” but no one ever mentions inflation Lol