
MACROPRO
LATESTOct 19, 2025
深度剖析美国银行系统的“第二次冲击”
扼要结论(Executive Summary) 危机演变:2023 年的“久期+存款挤兑”冲击(SVB、Signature、First Republic)通过贴现窗、BTFP 与临时担保得以止血,但结构性久期损失与商业地产(CRE)再融资难并未被治愈。
Continue →
Ztrader · Research
Fed, macro, vol, and quant notes — written for judgment, not headlines.Macro judgment inputs · EN / 中文 / 日本語One-click translateAI read-aloudFree · switch language in the header
Members
Full arguments, not teasers
Subscribe for complete reports — or browse the text archive.
Ask · Memory
Grounded answers from the research corpus — not a chatbot personality.