Happy-Go-Lucky

(1) Consumers consuming. (2) Young people much more optimistic than older ones. (3) The present component of Consumer Optimism Index is at cyclical high. (4) Two-day Brexit drubbing followed by solid relief rally. (5) Financials: Value traps? (6) All but two banks pass Fed’s stress test. (7) Pluses and minuses for US Financials. (8) Flat yield curve depressing net interest margins. (9) European Financials facing more challenges than US ones.