Hot Reads: Bank Stocks Slump Despite Fed Assurances

Plus, why the state of the job market may mean more rate hikes ahead.

Bank Stocks Slump, Even Though Powell Says Banking System Is Sound (The Wall Street Journal) 
Fed chairman also sees no reason to think the problems that led to Silicon Valley Bank downfall are systemic. 

The Inflation Factor Encouraging the Fed to Take Risks (CNBC) 
While wage growth is cooling, the job market is still too hot for comfort. 

Another Fed Rate Hike Keeps Policy Modestly Tight (The Capital Spectator) 
Yesterday’s increase was expected, but it’s not clear that there should be another one.  

The Right Way to Play Regional Banks Right Now (Barron’s) 
Investors might want to consider selling a cash-secured put option on a key banking ETF.  

US Households Likely to Sell $750B in Stocks, Goldman Projects (Bloomberg) 
The investment bank expects higher yields and lower personal savings to drive selling.  

Central Banks Face Excruciating Trade-Off (The Economist) 
They have to choose between financial instability and high inflation. It wasn’t meant to be that way. 

Measuring Home Prices (Indexology) 
U.S. home prices are continuing to rise in 2023, but the rate is slowing.