But but but... US economy is solid... curve will steepen... NIM... banks... bullish... buy... except that the market's perception of the credit risk in US financials is at 19-month wides. With counterparty risk rising, is it any wonder financial stocks are crashing?
[3]
Eerily reminiscent of 2007 sadly. Credit spreads started to bleed off record tights... stocks ignored it... then it all went pear-shaped.
[4]
Charts: Bloomberg
