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The US banking sector had a bad month in August, with several banks receiving downgrades from credit-rating agencies, capping off weeks of consternation about the sector’s profitability and vulnerability after a series of large bank failures early in 2023. Most banks are seen as stable, but the downgrades portend trouble ahead for some.
US banks aren’t taking any chances, increasing their provisions for loan losses as the Fed’s monetary tightening lingers and the likelihood of recession looms. A few sectors of the US economy, especially commercial real estate and some corporate entities, seem stressed, but banks continue to enjoy healthy profits from high interest rates.
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
In this article, we discuss the top 10 bank stocks in the Goldman Sachs portfolio.
TOKYO (AP) — Asian shares mostly fell Wednesday after worries about the U.S. banking system set off a decline on Wall Street and amid concerns closer to home about Chinese economic growth. Japan’s benchmark Nikkei 225 lost 0.2% to 32,323.31 in morning trading. Australia’s S&P/ASX 200 was virtually unchanged, edging up less than 0.1% to […]