One of our kids got the whole family sick this week, so just a short update.
Following the demise of First Republic Bank, all regional bank stocks took a bath on Thursday. They rallied slightly on Friday, but the signal sent by plummeting stock prices could affect confidence and lead to a run on a bank by its depositors. If this continues, it’s hard to see where it stops with regional banks unless the government steps in and changes policy — most likely by doing something with the FDIC’s 250K insurance limit. Pac West and Western Alliance appear to be the most vulnerable at the moment.
King Charles III had his coronation ceremony yesterday. I have been told by our resident royal watcher that historically the UK’s coronation ceremonies were not attended by foreign monarchs because the ceremonies were considered to be the business of the people of the UK alone. Now that the British Royal Family is considered to be one of the UK’s primary “exports,” times have changed… If you are curious who attended, here’s a list.
9:00pm 
