Bank Earnings--7/17/2013


As I've been mentioning in my last few Notes and Reports, I believe the U.S. banks are healed.  Note the most recent earnings reports of JPM, BAC, and C, to name only a few.  This, combined with my belief that the Fed initiated its extraordinarily easy money policies solely to save the banks, should begin to usher in the end of the easy money era.  Rates will go up, money markets will begin to pay some real levels of interest, and banks will begin lending to consumers.  In short, the economy will continue to "normalize." 

I believe this normalization will keep this secular Bull Market roaring, but, of course, we will have to endure pockets of volatility on the path to profits.