emyu Investment thesis My previous bullish thesis about U.S. Bancorp (NYSE:USB) aged well as the stock delivered almost 20% to investors since August 2023. On the other hand, USB lagged behind the broader U.S. stock market over the same period. I am quite cautious before the upcoming Q2 earnings release for several strong reasons. From the fundamental perspective, the macro environment did not change much, and I do not expect to see sharp moves in the Fed's monetary policy soon. The tight monetary envir ...