Banks currently are the industry group that is most popular with the top-performing newsletters that my auditing firm monitors.
That normally would imply that the editors of these newsletters believe interest rates are headed higher than they are already. That’s because, according to conventional wisdom at least, higher rates boost bank profits, on the theory that higher rates allow banks to expand the margin between what they pay on deposits and what they earn from their loans. But like so many other pieces of conventional…
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