Wait, this is confusing.
This message was circulating yesterday – hat tip to The Market Oracle

Breaking News: Imminent Big Bank Failure on Overnight Bank Loan Failure
Jim Willie of the Hat trick Newsletter has just sent an urgent message of a potential imminent big bank failure that would be expected to hit the financial markets hard - message as follows –

just got word from a reliable source with an excellent track recordhe calls me every several weeks when he has something very critical to sharehe wants me to put the word out and to see what comes back to confirm or add to the storyan extremely large overnight bank transaction loan failed last night, gathering major attentionit started in US west coast, went to Hong Kong, then Singapore, then Londonit failed in London, by that is meant no return was given on the overnight loanhe guessed the size was something like $10 to $30 billionhe suspected (without much direct evidence) that it was Citigrouphe believes the failing bank is a London subsidiary for a giant US-based bankhe likened it to a plumbing blockage with extreme backup consequenceshe expects a ripple effect to cause shock waves, or a flood of sewagewe wondered if it could have Commercial Paper consequences, since often used in overnightshe has five expert friends watching for specific market reactions, like LIBORso be on the lookoutin February, this source said that in May June timeframe, foreign creditorswill put the screws to the US bankers, who are recognized as totally corruptforeigner big bankers want to remove some power levers from US control

QUOTE ME IF YOU WISH

my source remains anonymous/ jim

Just after being published around 10.20, the Footsie started to slide.
Than the financials in the US session acted as follows:

Yes, the bear ETF for financials is reversing.

Coïncidence?

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