📢 #Gate观点任务# 第一期精彩启程!调研 Palio (PAL) 项目,在Gate广场发布您的看法观点,瓜分 $300 PAL!
💰️ 选取15名优质发帖用户,每人轻松赢取 $20 PAL!
👉 参与方式:
1. 调研$PAL项目,发表你对项目的见解。
2. 带上$PAL交易链接。
3. 推广$PAL生态周系列活动:
为庆祝PAL上线Gate交易,平台特推出HODLer Airdrop、CandyDrop、VIP Airdrop、Alpha及余币宝等多项PAL专属活动,回馈广大用户。请在帖文中积极宣传本次系列活动,详情:https://www.gate.com/announcements/article/45976
建议项目调研的主题:
🔹 Palio 是什么?
🔹 $PAL 代币经济模型如何运作?
🔹 如何参与 $PAL生态周系列活动?
您可以选择以上一个或多个方向发表看法,也可以跳出框架,分享主题以外的独到见解。
注意:帖子不得包含除 #Gate观点任务# 和 #PAL# 之外的其他标签,并确保你的帖子至少有 60 字,并获得至少 3 个点赞,否则将无法获得奖励。
⚠️ 重复内容的帖子将不会被选取,请分享属于你独特的观点。
⏰ 活动时间:截止至 2025年7月11日 24:00(UTC+8)
The Fear of a Banking Crisis: Why Investors are Turning to Alternative Stores of Value
The US Federal Reserve has the power to raise or lower interest rates. But what would happen if the Fed raised the interest rate too fast? No one knows for sure, but we do know that seeing stocks being sold down in the past year was not a concern because shareholders who have greater financial resources are better equipped to handle such volatility. However, when innocent depositors get hurt, that's not acceptable.
Recently, the US government stepped in quickly to make sure depositors of Silicon Valley Bank and Signature Bank got most of their money back. But the fear of a banking crisis has not subsided, and bank stocks are still getting hammered. This is because people are expecting more banks to fail, and the thought of this issue is spooking investors.
To be clear, depositors are getting their money back, but not the shareholders or even the bondholders of the banks. Shareholders of Silicon Valley Bank would get nothing. Any further sale will be heavily discounted, if they occur at all. It's understandable that shareholders are selling their bank stocks as it's a survival instinct kicking in.
Besides the stock market, the price movements in other assets are telling us that "money is scared." Investors are seeking safety by diversifying their investments and turning to alternative stores of value in order to hedge against the US dollar and the financial system.
This trend is reflected in the recent weakening of the US dollar and the concurrent surge in assets such as gold, silver, and cryptocurrency, which have long been viewed as alternative forms of currency.
The current market conditions are clearly demonstrating this shift in investment strategy. The largest bond ETF, Vanguard Total Bond Market ETF [BND], has risen by 2% in a matter of days, which is atypical since bond prices are expected to decline with an anticipated increase in interest rates, given the inverse relationship.
When stock prices drop and bond prices rise, it often indicates that investors are seeking safety. This can lead to a sell-off in stocks as investors shift their funds to the perceived safety of bonds, which offer principal guarantees at maturity.
The US Dollar Index has decreased by nearly 2% in the past five days, while the largest gold ETF, SPDR Gold Trust [GLD], has seen a 4% increase in value. Even silver, which is sometimes referred to as "poor man's gold," has experienced a 5% increase, as evidenced by the iShares Silver Trust [SLV]. Cryptocurrency has experienced even more dramatic growth, with Bitcoin experiencing a staggering 19% increase in value over the past five days.
Recent market movements indicate that interest rate risk may not be the primary factor driving asset prices at present. Instead, concerns about the stability of the financial system are influencing investment decisions.
Although there may be some attractive opportunities to invest in bank stocks that are likely to weather this episode, it's important to assess their capital ratios after adjusting for unrealized losses to identify the stronger banks. Banks with a smaller decline in their capital ratio are generally considered more resilient. In this chart, JP Morgan, Citi, and M&T Bank appear to be among the most resilient banks.
In summary, the fear of a banking crisis has led to investors seeking safety by turning to alternative stores of value, such as gold, silver, and cryptocurrency. The current market conditions are demonstrating a shift in investment strategy, with concerns about the stability of the financial system influencing investment decisions.