Citigroup just reported third-quarter revenue of $23.8 billion, up 8% year over year, while net income rose from $3.8 billion a year earlier to $5.2 billion, marking its best third-quarter results in a decade. The earnings leverage of Wall Street’s traditional megabanks’ core businesses is coming through, which should make investment flows into the traditional financial sector more solid. Will you use earnings reports from traditional megabanks as a gauge of macro liquidity?

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