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From Gavekal's Will Denyer and Tan Kai Xian

Hello, Founding Members!

This is an important note from Will and KX, in my view. 

My anticipation for months has been that the banking crisis that took down three semi-large banks last year is not over. For a while, that looked off the mark (I was early, as usual!). But this piece reveals it’s not just NY Community Bank that is on the Fed’s radar for acut…