Bank Slip

Over at The Common Trader, we have been theorizing the collapse of the financial sector coming in July for quite some time, which would result in a collapse for banks that rely heavily on mortgage payments. During this pandemic, there are many mortgages that are not being paid, and if this continues on, something will give. Banks such as Wells Fargo and J.P Morgan Chase (JPM) are some of the stocks that I think will be hit the hardest as we head into July. Also, the etf known as XLF, which follows the financial sector, is also something expected to come down as more time moves on with unpaid mortgages.

-Darnel Shillingford

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