Dear Reader, Commercial real estate is beginning to roll over — thanks to the Fed keeping interest rates “higher for longer.” We just saw the alarming domino effect on regional banks. From Bloomberg: “The US commercial real estate market has been in turmoil since the onset of the Covid-19 pandemic. But New York Community Bancorp and Japan’s Aozora Bank Ltd. delivered a reminder that some lenders are only just beginning to feel the pain.” With five bank failures last year alone… Jerome Powell just warned on 60 Minutes that more pain is coming to the banking sector. Here’s Yahoo Finance: “Powell acknowledged that some banks will 'have to be closed' or merged 'out of existence' due to losses tied to the falling values of properties across the US that are suddenly worth much less due to the Fed’s elevated interest rates.” According to TradeSmith Senior Investment Analyst Mike Burnick, a 30-year market veteran, this is exactly the kind of scenario that could cause a major stock market crash this year. That’s why Mike and his team have just released an urgent new “emergency warning” presentation. In it, Mike will tell you what’s about to happen… How to prepare for it, and quickly take steps to secure your portfolio from untold damage… And most importantly, one simple move you can make today to end up on the right side of it… Even if a crash happens tomorrow. That’s why I’d urge you take a look at the details right now. You’ll find Mike’s emergency warning here. Regards, Michael Salvatore
Editor, TradeSmith Daily | 
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