Happy Saturday readers. I'm Phil Rosen. "Happy" is used loosely here, as the past week has been defined by $4 across the banking system.
$4 and $4 have stolen most of the headlines, but between others like $4, $4 and $4, there's plenty to digest.
Today, I've rounded up everything that you need to know to get caught up on $4.
If this was forwarded to you, sign up here>$4. Download Insider's app here.>$4
1. Credit Suisse was losing the faith of investors long before this week. The scandal-hit lender has been feeling the pain since Silicon Valley Bank sparked the bank crisis. Here's a closer look on how it got to this point — $4
2. SVB's collapse completely screwed things up for companies with bad credit. At the beginning of the week, the spread on junk-rated bonds relative to US Treasuries surged to the widest level since December. $4
3. Venture capitalists have never been more divided, with accusations flying over who killed their beloved Silicon Valley Bank. VCs who have worked in the field for years told Insider that they couldn't remember a time when there was so much infighting. $4
4. Ray Dalio, the billionaire founder of Bridgewater Associates, sounded off on the financial turmoil. SVB's downfall marks a "canary in the coal mine" moment that will have repercussions well beyond the VC world, in his view. He explained how history illustrates that the current economic cycle could see more firms selling assets at major losses — $4.
5. No one is cheering about the implosion of SVB, but there could be a silver lining. Scary uncertainty aside, the event might just be what triggers a bull-run in the stock market. Expectations are growing that the Fed will pause its aggressive interest rate hikes, and $4
6. The biggest bank failure since 2008 is everyone's problem. There is a lot that's still unclear as the financial world sifts through the wreckage, but the fall of Silicon Valley Bank will be felt for years to come. $4
7. A popular real-estate tax loophole could be eliminated. Doing so could crush the market. That's according to some experts speaking with Insider, who say that President Biden's plan to do away with the 1031 exchange could cause property values to plummet. $4
8. A top real-estate economist said the bank turmoil could actually help spark a faster housing rebound. There have already been signs of more activity in the housing market, and mortgage rates could end up falling faster than expected with a less hawkish Fed, according to Nadia Evangelou, senior economist for the National Association of Realtors. $4
9. Goldman Sachs named its favorite growth stocks among financials. Traditional banks and regional names have taken sharp losses in the past week — $4.
10. Buy into this batch of bank stocks right now as uncertainty grips the banking sector. Bank of America strategists laid out 23 names that still offer upside despite the drag of SVB and Credit Suisse. $4
Curated by Phil Rosen in New York. Feedback or tips? Tweet @philrosenn>$4 or email prosen@insider.com
Edited by Max Adams (@maxradams>$4) in New York and Nathan Rennolds ($4) in London.