Macro Analyst

Sep 18, 2026 · bearish

(https://www.cnbc.com/2026/09/18/stocks-are-headed-for-another-losing-week-one-group-is-limiting-the-decline.html) — but the real damage is happening in the things that should be rallying hardest right now. JPM trades at 12.4x D/E with a net margin sitting at , yet the stock is down 3.2% since entry because the 10Y-2Y spread just collapsed to 27bp.

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