03-13-2023, 10:24 AM
(03-13-2023, 07:29 AM)rogpodge Wrote: Relying on that, SVB (and other banks) bought the "safest" investment possible... 10-year Treasuries.
"Safest" in terms of credit risk, but not in terms of interest rate risk, when you're buying long and rates are at the most historical of historical lows. Regardless of what anyone assures you about inflation, if you're running a bank you should know enough to now buy those.