To put things into perspective: Just over a year ago, SVB, Credit Suisse & First Republic had an equity value of >$100bn. Today, their shareholders have been largely wiped out. The cause of death was the same in all cases: rapidly rising interest rates. https://t.co/vcetwTgyHx pic.twitter.com/17mFwiz7KF

— Holger Zschaepitz (@Schuldensuehner) May 1, 2023