Banks Are Getting Battered

US financials stocks are down 3% from Friday's exuberant post-earnings opening highs. That is the biggest drawdown since the election with BofA, JPMorgan, and Goldman leading the downturn (down almost 5% from Friday's opening highs)...

Sell-the-earnings-news...

 

As suddenly investors realize there was no curve steepening and there was no NIM surge...

 

And credit markets might be right after all..

 

The question is - has BofA (JPM, GS, WFC) gotten ahead of itself? Well, readers can decide on their own...