Aaron Back
speaker
279 appearances
6 recordings
1 series
first heard Jul 2018
last heard Jul 2019
Aaron Back’s voice in public audio — every appearance, attributed to the second.
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Appearances
And so banks that are in that situation, different banks have different kinds of loans and different kinds of deposits.
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But the banks that are really suffering right now are banks with a lot of sort of flighty deposits that could leave any minute and very long-term loans that they can't reprice.
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Those banks are going to start to see pressure on their profits.
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Every cycle is different.
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If we're going into a recession or something, then yeah, deposit rates might start falling pretty quickly.
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Or they may simply stabilize at a higher level.
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Your Money Briefing.
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Yeah, that's absolutely right.
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A number of bank stocks are up about 2% on Monday due to some fairly positive Bank of America earnings.
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But overall, they're still down about 15% from their high in January.
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And that's because investors are worried that a turn in the economic cycle may be coming in the future.
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Yeah, well, I mean, no one knows what the future holds.
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But the results that we've seen from JP Morgan, Citigroup, Bank of America so far for the second quarter have all been extremely positive.
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We're seeing big increases in pre-tax profits.
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We're seeing higher net interest margins.
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Banks are earning more on their loans.
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We're seeing robust trading activity.
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So no one knows what's around the quarter.
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But if you just look at the evidence in front of us today,
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These banks are doing very well.
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Showing 241–260 of 279 · page 13 of 14
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