‘Left-Tail’ Bank Risk Growing ‘In Real Time,’ McElligott Says

"The banks left-tail outcome is growing in real-time," Nomura's Charlie McElligott said Thursday, amid another tumultuous session for America's beleaguered regional lenders. Existential declines for a handful of already battered names suggested additional government action of some sort may be necessary to stabilize the situation. Although Jerome Powell was keen to project confidence and calm following what most believe was the final hike of the cycle for the Fed, it was glaringly obvious by Th