The resilience in the stock market remains very strong…as yesterday’s bounce off the morning lows was another impressive one.
However, the fact that the banks face considerable headwinds…and the fact that the situation in China continues to deteriorate…means that economic growth around the globe still remains suspect. It will be great if we can avoid a recession, but will that be enough to keep the stock market rallying? We’ll be watching the bank stocks closely in the coming days & weeks to help us find the answer to that question.
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