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America’s Banks May Face ‘Profitability Crisis’
It still feels a bit like markets haven't internalized (or are unwilling to come to terms with) what
Net interest margin erosion, slower deposit and loan growth, heightened regulatory scrutiny, lower return on equity, and the risk of more “breakage”, not necessarily in banks but maybe in something that touches banks (CRE, etc). It feels like right now you only want to buy bank stocks if you can get them really cheap. Which means you’re looking at . . . the regionals . . . because I don’t think any of the SIFI banks are really cheap.
Treasury.Direct, where our family buys short term T-bills, was down most of the day yesterday due to “maintenance”. Go figure.