Stocks And Precious Metals Charts - Bank Runs And Flight To Safety

The equity markets got hit with a double-barreled shot of risk reassessment this morning.

The Jobs Report came in smoking hot this morning, which shattered the fanciful notions of a Fed pivot, yada yada.

And the Silicon Valley Bank (SIVB) joined Silvergate (SI) and gave up the ghost, sending shock waves of contagion and suspicion through the banking sector.

Neither event ought to have been all that much of a surprise, but given the superficial and self-serving fluff that passes for analysis on the Street and financial media, it was.

And of course, there is the ongoing backdrop of the slow crumbling of the crypto house of cards.

Gold caught a legitimate flight to safety after its recent pounding lower, and went out near the highs.

Silver also rallied but gave some of it back in sympathy with equities.

The Dollar gave back a little of its recent gains.

The VIX rocketed higher, but also fall back somewhat as happy thoughts were spread around.

Next week we will have the March option expiration quad-witching event.

So more volatility is likely.

People are concerned that the regulators are asleep at the switch, having been plied with industry opiates and congressional laissez-faire ideology.

In summary, markets remain fragile and susceptible to shocks. 

It's not a matter of intelligence so much as of willfulness.

Have a pleasant weekend.

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Disclaimer: These are personal observations about the economy and the markets. In providing information, I hope this allows you to make your own decisions in an informed manner, even if it is from ...

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