This page has been archived and commenting is disabled.
Bove Was Right (For Once): Citi Misses Top Line
- Q2 Revenue misses, comes in at $22.1 Bn versus expectation of $22.28 Bn
- Quarterly consumer net credit losses declined by $530 MM
- Tier 1 capital ratio at 12%
- Tier 1 common ratio at 9.7%
In other words, US credit card holders continue to pay off their credit cards before their mortgages. And somehow this is sufficient for banks to lower their Loss Provisions, even as end consumers are bled dry. This will not end well.
»
- 2960 reads
- Printer-friendly version
- Send to friend
- advertisements -
You say that as if it's a bad thing.
Dow Jones futures up +7.0
C is down -1.44% in pre.
The most important thing about the C numbers was actually credit card losses and these improved so I should go up again.
Did they turn reserves into earnings also like BAC & JPM. Yup perfectly solvent.
1.5B - 2B David Faber had the number half out of his mouth before he got cut off.
Funny that.
At least the sheeple understand their debt position; too bad it will make the economy explode.
"...US credit card holders continue to pay off their credit cards before their mortgages.''
I guess that people no longer watch The Suze Orman Show on CNBS...
So, the question remains. At what time does the market (including C and BAC) go green?
Well, thats it for the bulls today. After BAC and C earnings made no change no mini ES, just wait for CPI weakness to confirm the downtrend for the day...
you forgot to add
"...until 3:45 EST."
NBA market... only the last 12 minutes counts.
you forgot to add
"...until 3:45 EST."
Not this time.... if ES cannot make the 1070... all hope for bulls are lost.
With such a bad number for michigan, I wouldn't count on that.
Nah, watch it mysteriously ramp to 1100. Also, Euro is at 1.30 so I suppose all is well worldwide.
The last act will be consumers ramping cards into oblivion and defaulting on them too! Keeping those cards clean just keeps the vultures at bay for now and ensures that this particular "exit" is clear.
Hasn't / Isn't that already / currently occurred / occurring?
Does Bove have a facial skin problem? After watching his yesterday, I swear to God he's either been out in the sun too long or all those lies are beginning to surface.
Dickie was right? Who knew he had it in him?
Citi's.....umm...... marketing "compensation" check bounced.
The DOW/SP00 leg down has started.
http://stockmarket618.wordpress.com
Really this is a great post from an expert and thank you very much for sharing this valuable information with us. windows vps | cheap vps | cheap hosting | forex vps