European Financials Hit Its Highest Level Since GFC

Another international theme on my radar right now is European banks.

These stocks serve as a strong gauge of global risk appetite. Typically, when they perform well, risk assets are in good shape.

The European Financials Index $E1FIN just closed the month at its highest level since the Great Financial Crisis. 

This is particularly important for a lot of international indexes that are heavily-weighted in bank stocks.

If this breakout holds and we see follow-through in the coming weeks, it’s hard to imagine markets or the economy falling apart.

This was a very important topic we discussed yesterday in my presentation, and I think we all agreed.

After all, if these stocks are thriving, how bad could things really be?

Have a good weakened, everyone!

Alfonso

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