Bank stocks are priced for a soft landing, but I've been feeling increasingly uneasy lately ⚠️. Credit spreads and the VIX are both creeping up, completely out of sync with the current optimism in financial stocks. MAIN is the most sensitive to interest rates; I think extra caution is warranted. If the soft landing narrative starts to crack, cyclical names like Goldman Sachs and American Express would be the first ones I'd consider trimming.
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