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Chris Whalen on Big Bank Earnings and the Return of Credit Risk

Forward Guidance

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The Fed's Hitting Cycle Is Over

As interest rates have fallen and moresbacks have rallied, bonds have rallied because there's a bid for safety. What banks own actually has increased to value. All these negative equity in the market in solvents positions are actually looking a lot better. But again, if the 10-year trades off, if we go back to a 4% yield, we're right back in the same problem.

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