Stocks Not In Line With Regional Bank Collapse

"Tightening financial conditions are happening. Regional banks collapsing is negative for the economy and makes the Federal Reserve more dovish. Also, this is not a 2008 type of systemic event. Banks are going to be more worried about their asset liability risk management and on the asset side, they will be more reluctant to lend and invest in riskier parts of the capital market. Stocks are not reacting to the situation properly as the S&P 500 Index or SPX is back to the pre-SVB collapse levels," says Sebastien Page.