European Stocks Enter Correction As Bank-Battering Continues
Europe's Stoxx 600 index is now down over 10% from its January highs, officially entering correction...
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As (major exporter) Germany leads the drop this month...
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And bank stocks continues to get battered...
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Though we note that the last two weeks have seen US banks underperform EU, as credit risk spikes on global funding stress...
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I think this is a great buying opportunity...Europe is still rebounding sharply from a macroeconomic perspective and political risks are diminishing.