Why wouldn't banks shift from bonds to equities? Why would they refuse to pull out of a losing asset?
Because NOBODY is buying BONDS~! They are stuck with unrealized losses totaling in the $trillions. Bond market worst in recorded history. Treasuries are no better. Derivatives market is how many $Quadrillion~?
June is fast approaching. Phase 6..... 9 month time period coming up. ISDA expired derivatives contracts have to be covered. Can no longer be grandfathered. New contracts have to be written.