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European Banks Just Did What They Do Before Every Crisis...
HSBC just reported a 32% increase in pretax profit. And investors responded by dumping the stock as much as 7.5%. That sounds strange until you look at what was missing. That is the first clue. The second comes from the rest of Europe’s banks and what they are actually doing.
And then there is France.
Eurodollar University's Money & Macro Analysis
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The skinny
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