May. 16 at 12:33 PM
New Positions May 8th
Long
$GS / Short
$CFG
Macro: April PPI +1.4% MoM — largest print since March 2022, +6.0% YoY. Goods up 2.0% led by a 15.6% gasoline surge on Iran supply disruption. Rate cuts are repricing out — the tailwind CFG needs is becoming a headwind.
Long
$GS @
$937 | Stop
$887 | Target
$1,000+
Fee-driven rather than rate spread. US-China détente unlocks a frozen M&A and underwriting pipeline. Strong technical momentum with a clear agenda to break
$1,000. Volatile macro drives FICC trading revenue.
Short
$CFG @
$63.70 | Stop
$67.70 | Target
$55–57
Bull case for regionals around Fed cuts diminishing? Upstream inflation raising could stress key revenue drivers (mortgage, auto, etc). Weekly chart showing a top pattern, failing to break prior ATH. Valuation near historical highs with limited upside buffer.
Watch: May PPI Jun 11, July earnings, Surprise FOMC Cut amidst political pressure?