Akane Otani
speaker
1,333 appearances
33 recordings
1 series
first heard Aug 2017
last heard Mar 2023
Akane Otani’s voice in public audio — every appearance, attributed to the second.
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Appearances
So the longer we see these FANG stocks and other sort of high growth tech stocks keep showing weakness, I think the longer we'll see overall volatility in the markets play out.
I think people have been really hoping for the financials to pick up some of the slack just because rates are rising.
We're seeing more volatility in the markets.
Both those things should be good for banks, which their trading divisions certainly benefit when we see more swings across markets.
And they typically can collect more on loans as interest rates rise.
But it's a very delicate balancing act because if we see rates rise to the point where they start slowing spending, and we are seeing some signs of that in the housing and auto sectors, that does have an impact on banks' lending activity as well.
And I think that might be part of the overhang that is keeping the banks from really rallying because they haven't really started to catch up with the broader market or lead the broader market forward.
And in fact, we've seen names like Goldman Sachs tumble to their lowest level of the year several times now.
Yeah, it's all pointing to a slowdown in momentum, right?
And I think that's the thing that concerns people.
It's not any individual problem in isolation.
Like if we did see a slowdown in capital spending in and of itself, that might not mean anything significant.
But because it's coming in combination with all of these other signs of some slowdowns,
in the housing market, in the auto market, the tumbling that we're seeing in the stock market, the sense that we're going to see buyback activity wane in the coming years, and the sense that a recession is becoming more likely.
All those things together, I think, add to the pessimism that investors are really feeling at the moment.
Thanks for having me.
That's right.
And that is a shift in behavior from what we saw earlier in the year.
Basically, as we see the economy pick up, we start to see sectors that hadn't been doing so well start to post impressive earnings growth again.
And so it's not just the technology sector that is posting
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