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The Blackstone Group L.P. Message Board

mecosmo2 23 posts  |  Last Activity: Aug 12, 2016 11:19 AM Member since: May 19, 1999
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  • The weak jobs number has not changed the overall economic picture, Cleveland Fed President Loretta Mester declared, calling "a gradual upward pace of the funds rate appropriate." "When the rate hikes will occur and the slope of that gradual path is data dependent," she added. The U.S. economy added just 38K jobs in May, well below the consensus estimate of 164K and the smallest gain since September 2010.

    Boston Fed President Eric Rosengren also expects sufficient economic growth to justify higher interest rates in the coming months despite the recent "choppy" economic conditions in the U.S. and May's "disappointing" employment report. Over the past six months, Rosengren has been a forceful advocate for raising rates in the U.S., citing a concern that low rates may be fostering asset bubbles, especially in the commercial real estate market.

    Sentiment: Strong Buy

  • The verdict
    There's no question that both of these stocks are on the riskier side, but I believe this is more than made up for by their valuations. And, I happen to like both of these banks at their current prices, even after the recent rebound. If I had to choose just one, I'd pick Bank of America simply because I feel it has more upside as interest rates normalize and profitability approaches respectable levels.

    Sentiment: Strong Buy

  • eight largest U.S. banks to hold even more capital if they want to pass stress tests.

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