zerohedge.com / by Tyler Durden / Jul 15, 2017 5:58 PM
Over the next three weeks, the investing world will shift its attention away from the endless chatter of central bankers and concerns about the state of the economy, and instead focus on second quarter earning season, which launched on Friday with results from the three biggest US banks which showed that chronically low volatility is anything but good for trading revenues (as Jamie Dimon made all too clear in a bizarre Friday rant). As previewed last week, and is the norm, we get most of the US numbers first, followed by Europe and then Japan.
And yet, despite expectations for a Q2 S&P500 EPS increase of roughly 7% Y/Y, suggesting solid economic growth, Citi warns that “we may be approaching a cyclical peak.” The biggest concern is that recent economic data, especially the “hard” variety, has been anything but good.
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