KBW CEO Thomas Michaud on the economic recovery and outlook
Thomas Michaud, CEO of KBW, a Stifel company, joins "Squawk on the Street" to discuss the economic recovery and the outlook of the economy going forward. We use a statistical tool that's a little more real-time, but it doesn't include stimulus, says Michaud. In my opinion, the market is over-discounting the valuations of financials and the uncertainty gap is too wide. And in this quarter we're going to get information that will make investors feel better about these companies.