Big Bank Earnings Kick Off Earnings Season

Financials enter this reporting season with the market expecting sector earnings growth above 12% and revenue growth north of 8%. Read more here.

Summary Financials enter this reporting season with the market expecting sector earnings growth above 12% and revenue growth north of 8%. Across assets, the 10-year Treasury yield backed up to 4.54% from 4.49% a week earlier, a quiet reminder that the bond market is not fully sold on those cut odds, and the VIX stayed becalmed near 15.7. The push toward the highs came on unremarkable participation, and the new-high lists were dominated by the same technology and communication-services names that led the tape all week.

Deposit costs come down more slowly because banks are reluctant to cut what they pay savers who could walk to a competitor or a money-market fund. Private credit has ballooned into a multi-trillion-dollar market with a fraction of the disclosure of the syndicated loan market it replaced, and most of it has never been tested through a real default cycle. natatravel/iStock via Getty Images Market Brief – Mega-Cap Tech Retakes The Lead

The tape flipped its script this week. As we noted two weeks ago, we rotated back to the mega-cap growth stocks. Since then, the mega-cap complex grabbed the wheel again