A couple signs of stability for those worried about the banking crisis: regional bank stocks are mostly up this week, and inflows into money market funds have reversed. Most of the major regional banks have reported earnings, and the good news is they are all trading up this week. Regional banks (WTD, through Thursday close) M & T Bank + 7.0% Synovus + 6.0% Comerica + 5.3% Fifth Third + 5.3% Zions + 3.9% PNC + 3.1% Of course, no one is claiming everything is going back to prior valuations. The Regional Bank ETF (KRE) is still 25% lower than it was in early March. But it's up 2.8% this week and about 5% above the intraday low it hit in late March. At this point, with bank earnings mostly out of the way, trending up is a victory. Another sign of calm: money market inflows have stopped. It was a classic sign of deposit panic: at the height of the banking crisis in March, billions of dollars flowed out of old-fashioned, on-demand bank accounts and into higher-yielding money market funds. That is now reversing. Total assets in money market funds fell by $68.64 billion in the week ended April 19, according to the Investment Company Institute. It was the largest dollar outflow from these funds since July 2020. The money market business is large but typically has fairly stable assets. From late February to early April, net assets of money market funds increased by about 10%, to $5.27 trillion. Money market: net assets Feb. 22: $4.82t March 1: $4.89t March 15: $5.01t March 29: $5.20t April 5: $5.25t April 12: $5.27t April 19: $5.20t Source: ICI "This reversal in money market flows suggests that deposit outflows from the banking system may have stopped," Mark Diver from Bernstein said in a note to clients this morning.