Q2 bank earnings begin Friday; Analysts are expecting the worst earnings decline since the pandemic, -7%.

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As we approach the beginning of Q2 bank earnings, analysts are bracing themselves for what is anticipated to be the most significant decline in earnings since the onset of the pandemic, with a staggering -7% expected. This pattern seems eerily familiar, as we witnessed a similar sequence of events back in 2018 when the Federal Reserve was actively increasing interest rates.Interestingly enough, history seems to be repeating itself as it did before. In 2018, while the broader market reached its peak early in February, mega-cap stocks continued their upward trajectory only to face a catastrophic implosion during Q3.

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