Saturday, February 13, 2016

#BankStocks at Risk In the Coming #Contagion

News
The evolving global debt crisis places government bonds, major holders and sellers of them - banks and pension funds at risk as the economic and financial contagion spreads and intensifies into 2017. European banks, such as Deutsche Bank, Soc Gen, Banco Populare, etc, will get hit first. Since the global banking system is highly interconnected, it's inevitable that US banks will follow. The world won't care what price Jamie Dimon paid for his vote of confidence in JPMorgan in 2016 once the contagion spreads.



Headline: Dimon's Bold JPMorgan Bet Makes Him $2.2 Million Richer in a Day

Jamie Dimon only had to wait a day for his big bet on JPMorgan Chase & Co. to pay off.

The bank’s shares jumped 8.3 percent in New York trading Friday -- the most since November 2011 -- after the chief executive officer spent $26.6 million for 500,000 shares. Dimon’s paper gain was about $2.2 million after the price surged to $57.49. He paid from $53.13 to $53.30 apiece on Thursday.


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