Asking Matt Maley for takeaways from bank earnings, noting investment banking performance differences.
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Earnings reactions were technical; credit card rates issue created opportunities; Goldman and Morgan Stanley investment banking was good despite shutdown concerns; wealth management provides forward-looking solidarity.
Asking Matt Maley for favorite banking name.
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JP Morgan is pinnacle; Bank of America interesting after pullback; PNC Financial and other regionals could be opportunities; bank ETF breaking 2007 highs suggests upside potential.
Asking Matt Maley where 10-year yield is headed.
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Worried about budget deficits in US and Japan pushing long-term interest rates up regardless of Fed actions; steeper yield curve could help bank earnings via net interest margins but could create economic problems if rates go too high.