Banks

We do not believe that NYCB is a canary in the coal mine for a new round of bank distress. The MidCap 400 Regional Bank Index’s subsequent 10% decline looks to us like a juicy opportunity for stockpickers who can separate the wheat from the chaff. Our Special Report is meant to assist them with their initial winnowing.

Poland’s inflation will stay elevated. And yet, its return to the European mainstream has improved its financial market outlook. Accordingly, we are recommending new trades on Polish equity, fixed income, and currency.

The latest round of earnings calls from the systemically important banks suggested that the expansion is still intact. Households are still flush and still spending and consumer and business delinquencies remain remarkably low.

In this US Bond Strategy Insight we discuss the outlook for bank bonds.