The US banking dog
Oct 05, 2023
US banks have been a dog this year with the KBW bank index, the benchmark regrouping the 24 most prominent banks, down 26% in an up markets. Share prices have indeed not recovered at all from the US regional banking crisis in Spring. We have 1 week to go until the result season of the US banks is starting. JPMorgan will open the dance on October 13th. We continue to believe that the US regional banking crisis is contained despite the higher interest rates and the duration mismatches in the bond portfolios of the banks. Time to look at US banks again for investment opportunities ?