New Year's Day 2023 market: What Bank CEOs say about the economy in the Year of the Rabbit

SPY pushes through the important 400 level in the first trading session of the year with the tech sector receiving the majority of money flow in the morning after the extremely large OpEx last week with the 400 call wall significantly eroded and temporary roll hedge demand not yet appearing significantly. Last week's OpEx week was also an important week when the banking sector completed the extremely “mixed” Q4 financial reporting season. Accordingly, most investment segments of the banks suffered losses but many banks showed positive signals from the consumer banking segment. Below are views on the market and the overall economy in 2023 from leaders of major banks:

• - No many alarming signals seen in the financial system yet but the board of directors continues to maintain a cautious stance