Why the large US banks might quit the mortgage business

bank front photo
From Andrea Riquier: You can kiss George Bailey's mortgage market goodbye.
NYSE:XLF April 17, 2019 5:58pm

Bank Stocks Could Plunge Further

bank sector
From Mark Kolakowski:
NYSE:XLF March 25, 2019 1:32pm

U.S. Banks stocks continue to fall

stock ticker board
From Felice Maranz:

(Bloomberg) -- Big banks extended losses into a fourth day Friday, as 10-year Treasury yields tumbled, the 3-month/10-year yield curve inverted for the first time since 2007, U.S. manufacturing data missed expectations and Europe's economic outlook darkened.

NYSE:XLF March 22, 2019 1:30pm

Financial sector sees another day in the red, as Fed’s dovish messages weigh on yields

profit loss
From Tomi Kilgore: Financial stocks fell Friday, and were the only sector of the S&P 500'sSPX, +0.70% 11 sectors to be losing ground, as Treasury yields extending declines amid growing concerns of a slowing economy. The SPDR Financial Select Sector ETF XLF, -0.54% declined 0.4%, and has now lost 3.2% amid a 3-session losing streak. Among some of the financial ETF's most heavily weighted components, shares of J.P. Morgan Chase & Co. JPM, -1.85% fell 1.8% to pace the Dow Jones Industrial Average's DJIA, +0.58% decliners, Bank of America Corp. BAC, -1.71%shed 1.4%, Citigroup Inc. C, -1.03% slid 1.0%, Goldman Sachs Group Inc.GS, -0.38% gave up 0.3% and Wells Fargo & Co. WFC, -1.44% lost 1.2%. Meanwhile, the yield on the 10-year Treasury yield declined 1.4 basis points to a 14-month low of 2.451%, in the wake of the Federal Reserve's dovish message, in which the central bank cut its outlook for economic growth and inflation, as well as its projections for interest-rate hikes to none from two. Lower Treasury yields can hurt bank profits, as they narrow the spread between what banks earn on longer-term assets, like loans, that are funded by shorter-term liabilities.
NYSE:XLF March 21, 2019 1:13pm

Bank stocks drop after 10-year yield hits 15-month low following Fed update

money loss arrows
From Mark Decambre: Popular gauges of financial institutions on Wall Street traded solidly lower after the Federal Reserve Wednesday downgraded its forecast for U.S. economic growth and indicated that policy makers wouldn't hike rates in 2019. That reaffirmation of its earlier dovishness provides a poor environment for bank's, whose business models perform better in a rising interest-rate environment. The 10-year Treasury note fell to 2.53%, hitting its lowest level since early January of 2018, after the Fed policy update. Meanwhile, the Financial Select Sector SPDR ETF XLF, -2.06% fell 0.6%, while the S&P 500's financial sector was off by 1.2% and the Invesco KBW Bank ETF KBWB, -3.03% was 1.8% lower in late-Wednesday action. Although the Federal Open Market Committee held interest rates at a range of 2.25% to 2.50% as expected, it downgraded its economic outlook, dropping its gross domestic product forecast to 2.1% for 2019, from 2.3% before, and said that the winding down of its balance sheet would end in September. Meanwhile, the Dow Jones Industrial Average DJIA, -0.55% the Nasdaq Composite Index COMP, +0.07% and the S&P 500 index SPX, -0.29% all headed modestly higher after the Fed decision.
NYSE:KBE March 20, 2019 6:25pm

Why this is a positive environment for big bank stocks

federal reserve building
From Brian Sozzi:

Jerome Powell's Federal Reserve has long pivoted back to being super dovish. The 10-year yield has dived to about 2.6%. And markets have since been lulled into seemingly churning upward each day to reach the fall 2018 highs, absent the daily swings that traders at the investment banks crave. Hey, they have to get paid people.

NYSE:XLF

Is the Financial Sector a Buy in 2019?

money flowing bills
From Matthew Cochrane: The financial sector of the stock market is made up of companies that provide a variety of financial services to commercial and consumer customers, including:
NYSE:XLF March 13, 2019 12:35pm

Why the Banking Sector could have a strong 2019

2019 Stocks increase
From Lou Carlozo:

Not only can you buy shares on Wall Street: You can literally buy shares in Wall Street, as the financial sector boasts some heavy hitters so far as dividend stocks go.

NYSE:XLF March 12, 2019 4:54pm

What’s Behind The Bank ETF’s Rally?

2019 Stocks increase
From Todd Shriber: Financial services, one of 2018's worst-performing sectors, is looking to shed that laggard status this year. The group is off to a good start, as highlighted by the Financial Select Sector SPDR XLF 0.06%, which is up 9.15 percent year-to-date.
NYSE:XLF January 29, 2019 1:24pm

Bad news for Wall Street: Ocasio-Cortez reportedly in line for banking post

bank sector
From Jeff Cox:
NYSE:KBE January 11, 2019 1:52pm

Banks hope to shake off concerns over a global recession in earnings

Financial Sector
From Brian Cheung: The large-cap banks will kick off the first earnings season of 2019 next week, and their biggest challenge will be fending off concerns about a looming recession.
NYSE:XLF

Treasury Secretary Mnuchin held calls with Bank CEOs to discuss the market turmoil

Financial Sector
From John Melloy: Treasury Secretary Steven Mnuchin spoke with J.P. Morgan Chase CEO Jamie Dimon, Bank of America's Brian Moynihan, Goldman Sachs' David Solomon, Morgan Stanley's James Gorman, Tim Sloan of Wells Fargo and Michael Corbat of Citigroup.
NYSE:XLF December 24, 2018 1:24pm

Financial ETFs are Suffering

etfs money
From Ben Hernandez: "There's a lot of nuance in the decision. I think what's pretty clear from the statement is Powell is not poised to turn sharply dovish," said Brian Dangerfield, macro strategist at NatWest Markets. "The Fed is going to be data dependent, but the data on which they are depending has not slowed dramatically."
NYSE:XLF December 20, 2018 4:31pm

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