The Fed just put two dates on the calendar every bank trader needs to know.

The Fed just put two dates on the calendar every bank trader needs to know.

Two items off the wire.

First — the Fed has issued enforcement actions against a former employee of Atlantic Union Bank and a former employee of Frost Bank. Individual-level actions. Not institutional. Watch both tickers for any secondary read-through.

Second — and this is the one that matters — bank stress test results drop Wednesday, June 24th, four p.m. Eastern. Hard date. Every major bank holding company is in scope. Results land after close, so Thursday morning open is where price discovery actually happens. Regionals, money centers, all of it moves on that release.

Mark it. June 24th. Four p.m. Eastern. Post-close drop.

If you trade financials, that's the most important hour of your month.

Numbers don't lie. People do. Trade accordingly.