According to the Wall Street Journal, all the big banks except Wells Fargo are reporting great results for the second quarter. So naturally here’s what happened:
I’m sure this all makes sense to the literati. The bottom line, I guess, is not just that big banks are raking in money, but they’re raking in even more money than analysts expected. However, they aren’t raking in stratospheric amounts of money, so their stock prices are down.
Or something. This article says bank stocks are anemic because of fears about the flattening of the yield curve. Sure. Whatever. I’ll bet that Wall Street won’t let that interfere with bonus season.