Surveillance: Earnings Contraction with Han
Bloomberg Surveillance
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The Importance of Internal Rate of Return
Gerard Cassidy is head of US Bank equity strategy at the Royal Bank of Canada. The team at Wells Fargo looking for a 10% correction in the next three to six months off the back of earnings. If we don't have a big recession, as many people think we are going to have, the credit problems for the banks will not be that severe and rates will start coming down probably next year. We could have banks that consistently pay their dividends through the cycle and also deliver mid to lower teens return on tangible common equity. Those are very attractive returns. Great for shareholders.
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