Last year, Patrick Perret-Green, veteran bond trader and macro strategist, warned his clients that plummeting liquidity at regional U.S. banks could cause serious issues. Now that these issues have made themselves apparent with the fall of three U.S. banks, Perret-Green of PPG Macro joins Forward Guidance to share his views on bank liquidity, loan growth, and credit risks within banks as well as shadow banks. Filmed on May 11, 2023.
Follow Patrick Perret-Green on Twitter https://twitter.com/PPGMacro
Follow Jack Farley on Twitter https://twitter.com/JackFarley96
Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance
Follow Blockworks on Twitter https://twitter.com/Blockworks_
____
Use code GUIDANCE10 to get 10% off Permissionless 2023 in Austin:
https://blockworks.co/event/permissionless-2023
Research, news, data, governance and models – now, all in one place. As a listener of Forward Guidance, you can use code GUIDANCE10 for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/
____
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter:
https://rb.gy/5weeyw
Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research "Daily Debrief" Newsletter: https://rb.gy/feusos
____
Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
Timestamps:
(00:00) Intro
(00:28) Patrick's 2022 Warnings About Banks
(10:33) Credit Risks
(15:49) Shadow Banking System
(19:35) Permissionless
(20:38) Loan Growth
(29:17) Global Liquidity Is Collapsing
(34:32) Foreign Banks Are Having Issues
(37:20) The Pain Trade Is For The Dollar To Go Higher
(40:11) Rate Hikes "An Economic War Crime"?
(43:34) Commercial Real Estate
(49:42) Bank Run Risks
(56:14) Blockworks Research
(57:16) Where Are Interests Rates Headed?
(01:00:54) China
(01:08:50) Closing Thoughts