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Hello everyone, hope your well.
A couple of interesting stories dropped today.
And the big picture to keep in mind when viewing these stories is this;
At the end of an economic trend, GOOD NEWS IS EVERYWHERE, AND THE FUTURE ALWAYS LOOKS BRIGHT!
Heres the first one: Trump signs the biggest rollback of bank rules since the financial crisis
The future is bright everyone, we dont need no bank regulation!
Now, these regulations were NOT a cure to all the ill's of the financial industry,
But the deregulation of the banking industry speaks to the confidence that people have in a bright future free from trouble and strife.
A few thoughts on the U.S housing industry.
The U.S house price index is sitting at all time highs now 18% higher than the peak in 2007.
With mortgage debt now topping the the 2008 high.
And the labor force participation rate back at levels not seen since 1978?
How does a banking system have a bright future when:
House prices are higher than ever,
Mortgage debt is higher than ever,
And less people are working as a % of the population.
Time to short banking stocks again??
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UPCOMING RISK EVENTS:
USD: Core Durable Goods Orders m/m, Fed Chair Powell Speaks, Revised UoM Consumer Sentiment.
EUR: German Ifo Business Climate,
GBP: Second Estimate GDP q/q, BOE Gov Carney Speaks,
JPY: N/A.
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