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Forward Guidance
Chris Whalen: Banking System On “Knife’s Edge” As Fed “May Destroy The World”
Oct 17, 2023
01:07:38
Snipd AI
Chris Whalen of Whalen Global Advisors discusses recent bank earnings, commercial real estate risks, U.S. banking sector outlook, Charles Schwab's financial position, challenges faced by City and Goldman Sachs, and the resilience of financial companies
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Quick takeaways
- Normalization of bond market and funding costs reduces returns of major banks.
- Challenges in commercial real estate loans pose interest rate risks for regional banks.
Deep dives
Earnings of major banks impacted by normalized bond market
The normalization of the bond market and funding costs has reduced the returns of major banks. Funding costs have risen faster than yields on loans and new securities. The banks are experiencing lower credit costs, but the increase in cost of funds is hindering their efforts to capture higher yields.
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Discover
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