MBCC TH 13th April'23 - "Money market funds negative y/y for first time, and the Fed cannot do anything about it for now!"

Fed may have plugged the leak in US banking sector, but week on week, we are seeing massive deposit outflows, and no, they will not stop! Why should they when you are getting 4.5% risk free than a “safe” US bank giving you 1.5-2%?

S&P 500 at 4200, $VIX at $20, Dollar at lows, Gold at $2050, Bitcoin at $30000, Bond yields at 3.4%…we are at some key inflection points in the market now…what is the trade here?