Quick, someone get us a prozac. We just finished re-listening to the Citi conference call from this morning.
Citi shares are getting hammered today after Citi reported a "challenging interest rate environment" and "competitive pricing" on the international front.
Net income was up from the year ago, but it mostly stemmed from a $2B gain from the sale of an asset management arm to Legg Mason (NYSE:LM).
We should've dumped Citi after Wells Fargo (NYSE:WFC) dropped the ball earlier this week -- the inverted yield curve is eating into these bank's profits like a termite on steroids.
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