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A Mixed Outlook? The Banking Sector and Its Three Key Drivers
The latest earnings results for banks include words like “record,” “outstanding,” and “doubles.” So far, 2023 has been a banner year for the sector, at least from an earnings perspective. But bank stock prices have yet to eclipse their previous highs. The KBW NASDAQ Global Bank Index, which tracks global banks, has barely grown since the current hiking cycle began in early 2022 and generally has not exceeded its pre-COVID-19 peaks. Other bank indexes haven’t outperformed either. The S&P Regional banks index is trading at 2016 levels. Banking is a complex sector with many influences. So, to ... (full story)