Rachel Louise Ensign

speaker

574 appearances 12 recordings 1 series first heard Jan 2018 last heard Jan 2024

Rachel Louise Ensign’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Merrill Makes a Play for Younger, Less Affluent Clients · 9 Apr 2019 podcast

say below $250,000 in assets.

And, you know, the traditional players are starting to worry that when those people make enough money for typical wealth products, they won't be customers anymore.

Right, exactly.

So the view is when that wealth transfer that you mentioned happens, which is predicted to be trillions of dollars, you know, you want those people to already be Merrill Lynch customers, even if they don't have that much money before that.

Yeah.

So among the big banks, big banks with wealth businesses have, you know, developed these robo-advisors and so have the so-called discount brokerages.

So those are the Schwab's and the TD Ameritrade's of the world.

They've been doing stuff like this for a long time.

And, you know, this is Bank of America's effort to kind of take a little bite out of their business.

Yeah, thanks for having me.

WSJ Your Money Briefing · Banks' Strong Q2 Earnings Might Not Boost Stocks · 12 Jul 2018 podcast

Your Money Briefing.

Yes.

So over the last few weeks, the quarter, there's been this phenomenon in the bond market, which we've written about a lot at the Journal, called the flattening of the yield curve.

And it's basically when rates on short-term bonds, the spread between that and rates on long-term bonds decrease.

narrows so basically there's less of a premium for a long-term bond and it's kind of a wonky thing but it's really important because it plays into bank profits and second of all when it goes to an even more extreme which is called an inversion when the narrowing kind of gets so extreme that long-term rates are lower than short-term rates that is almost always a sign that a recession is coming which is obviously horrible for banking if there's some kind of downturn so

So basically, a lot of bank stocks are tied to yields.

People buy them and trade them based on that.

So because of this flattening of the yield curve, folks have pulled back from bank stocks.

And a lot of the big banks are actually in the red for the year, despite the fact that they're literally making more money than ever.

Right, right.

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