As a general rule of thumb it’s pretty standard procedure to keep your eyes on a given countries financial sector and specifically its banks, as a measure of economic health and stability.
Considering the massive amounts of “funny money” that has been printed and then passed on to the major banks in the United States, one would assume these institutions are literally “stuffed to the nines” and in fantastic shape.
Well…….CITI Group has now “failed” the latest set of stress tests along with 4 other large American banks, apparently not looking “very prepared” for any potential economic fallout / downturn.
I watch the symbol $BKX that lined up “to the minute” with the last 10 day drop in the SP 500 back in late January so……it’s not looking very healthy here after today’s news.
Something for “punch bowl drinkers” to keep an eye on.
I don’t touch the stuff.