Charles Schwab plunges 19% as investors worry about banks sitting on big bond losses following Silicon Valley Bank collapse
According to Charles Schwab's, the bulk of the bank's bond holdings across both its available-for-sale and held-to-maturity securities had a duration of more than 10-years with a weighted-average yield significantly lower than today's yields.
Investors today can buy a 2-year US Treasury note with a yield that is nearly triple the yield of Schwab's bond portfolio.
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