SocGen's Stear Says European Banks Are Undervalued

The video discusses the impact of tariffs on US operating margins, highlighting the challenges posed by rising labor and import costs. It predicts a squeeze on margins in 2019. In Europe, the focus shifts to revenue, with a particular interest in the banking sector's valuation. The discussion also covers sectors most exposed to US-China tariffs, such as the auto and luxury goods industries, emphasizing the importance of valuation in the financial sector.

How have tariffs impacted the revenue generated by the Commerce Department?

What are the two main problems affecting US operating margins mentioned in the text?

In what ways are US companies limited in passing cost increases onto consumers?

What is the significance of the banking sector in the context of the financial market as discussed in the text?

What sectors are identified as being under pressure due to their dependence on the Chinese middle class?