US Bank-Run Escalates: Deposit Outflows Top $360 Billion In Last 3 Weeks
by Tyler Durden, https://www.zerohedge.com/
Tl;dr: The bank run continues to accelerate…
…especially if one looks at non-seasonally-adjusted data.
Crucially that is over 360 billion of deposit outflows from US banks in the last 3 weeks. And here is the source data:
Here's a question:
During a bank run when billions of deposits are getting yanked each day, do you seasonally adjust the bank run?
Because that's what the Fed did and here is the deposit data:
Seasonally adjusted: $12.5BN outflow
Actual: -$120BN, or 10x greater, outflow pic.twitter.com/31wGBuXF4m
— zerohedge (@zerohedge) May 5, 2023