REA having a bear market rally?, page-52

The lending has slowed in the USA as the banks have already reported. The trend is clear with lower sales volume and the housing sector is struggling This is what I posted in MQG for interested people. I feel both these companies are very similar in broader terms. Overvalued, well-liked by the market but terrible macro drop.

" As I expected JPM and Morgan Stanley performed poorly. JP Morgan

Profit declined 28% from a year earlier.
Investment banking fees dropped by more than 50% (There were extraordinary items that contribute to that magnitude, but the trend is lower fees). They had to increase the provision for bad loans significantly.

Wells Fargo missed top line and bottom line numbers. This is a more traditional bank like ANZ or Westpac (with a lot of issues on its own hence no comparison to CBA). Traditional lending declined which I did not expect to take place this soon.For people who were interested in individual companies with profit downgrades I can simplify it: ALL the US banks. All of it.

All these events are taking place where the Fed is not even close to finishing, QT is yet to get into full gear and we haven't recorded the peak inflation (However we had to have seen the mechanical peak of inflation with the last print: Surely).

I felt still people believe that this is over in a month or so. I just can't see it."