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Bullboard - Stock Discussion Forum Nevada Copper Corp NEVDQ

Metals & Mining Copper
Nevada Copper Corp is a Canada-based mining company. The Company is engaged in the development, operation, and exploration of its copper project (the Project) at its Pumpkin Hollow Property (the Property) in Western Nevada, United States of America. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is undergoing a restart of operations, and... see more

GREY:NEVDQ - Post Discussion

Nevada Copper Corp > "huge defaults on the horizon" or why I like gold.
View:
Post by bogfit on Feb 01, 2024 3:30pm

"huge defaults on the horizon" or why I like gold.

Regional bank stocks are feeling the bite of the unfurling commercial property crisis in a rout that's giving SVB-collapse flashbacks.

Commercial real estate loans are going sour with huge defaults on the horizon, pummeling banks from New York to Tokyo.

Regional banks are a lot more exposed and vulnerable to commercial real estate loans.

Plummeting regional bank stocks are giving investors dj vu, but the underlying problem this time around is the commercial property crisis.
 
On Wednesday, the KBW Nasdaq Regional Bank index saw its worst day since the collapse of Silicon Valley Bank in March, ending the day down by 6%. The decline was led by New York Bancorp, which tumbled nearly 40% on Wednesday after posting a fourth-quarter loss of $260 million due to of sour commercial real estate loans.

US property losses also sent Tokyo-based Agora bank tumbling 20%, Bloomberg reported. And Deutsche Bank AG in Europe is quadrupling its provisions, or which is money set aside to anticipate future losses, to $123 million. Even New York Bancorp set aside a huge chunk of its $552 million provisions for its commercial real estate portfolio.
 
The mayhem in regional banks reflects the malaise that has gripped America's commercial property sector, which has a $2.2 trillion mountain of debt due in 2027. Real estate experts have called the market a "slow moving train wreck" with a possible $700 billion default looming on the horizon.
 
 
 A commercial real estate crash is unfolding, and regional banks are feeling the pain (msn.com)
 
b.
Comment by bogfit on Feb 01, 2024 3:38pm
"Last month, researchers from four top universities predicted that the default rate on commercial real estate could rise as high as 20%, which they estimated would land US banks with $160 billion worth of losses." New York Community Bancorp's stock closed down 38% after posting a loss of $260 million for the last three months of 2023, which it blamed on sour commercial real ...more  
Comment by bogfit on Feb 02, 2024 9:08am
I really like it when the PM miners are "on sale". FYI - PH has Au. b.
Nevada Copper Corp