US financials stocks are down 3% from Friday’s exuberant post-earnings opening highs.

That is the biggest drawdown since the election with BofA, JPMorgan, and Goldman leading the downturn (down almost 5% from Friday’s opening highs)…

Sell-the-earnings-news…

As suddenly investors realize there was no curve steepening and there was no NIM surge…

And credit markets might be right after all..

The question is – has BofA (JPM, GS, WFC) gotten ahead of itself? Well, readers can decide on their own…

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