"Fortress balance sheets"?
The Brexit contagion is spreading as USD liquidity and counterparty risk in the interconnected global financial system has reached US banks with Goldman at 3 year lows and BofA and Citi plunging over 12%. This happens just two days after the Fed released its latest stress test results finding that none of the 33 banks tested would need additional capital in case of a "severe" financial crisis. That conclusion may be tested soon.
BofA and Citri are ugly:
S&P Financials ETF is down almost 8% in the last 2 days - the biggest drop since the summer of 2011 US downgrade... and below the August crash close:
Who could have seen this coming?