Hot Reads: Banks on a Borrowing Frenzy

Banks Borrow $165B From Fed in Rush to Backstop Liquidity (Bloomberg) 
Signs of escalated funding strains emerge in the aftermath of Silicon Valley Bank’s failure. 

How Deep Is the Rot in America’s Banking Industry? (The Economist) 
Silicon Valley Bank’s collapse may be the start of something grimmer. 

This New Bond Leader Doesn’t Have a King (Institutional Investor) 
Actively managed bond funds at Capital Group, a huge, faceless manager, have attracted $100 billion over five years. 

The Fed’s Big Problem Just Got Bigger (The Capital Spectator) 
The turmoil in the banking industry has worsened the inflation situation for the Fed.  

As Banking Fears Grow, Advisors Keep Saying ‘Don’t Panic’ (FA Magazine) 
In most cases, investors shouldn’t make any drastic changes, said one advisor. 

Big Changes in S&P 500 Highlight Power of Index Providers (CNBC) 
Some best-known stocks get reclassified on Friday, and a lot of money is going to move around. 

Oil ETF Raked in Most Cash Since 2020 (Bloomberg) 
ProShares’ leveraged oil fund UCO reported a daily inflow of $158 million.