NBS on Nostr: Interesting day for markets. Bank stocks leading the drive down with Ally bank down ...
Interesting day for markets.
Bank stocks leading the drive down with Ally bank down some 18%, but this is a far different situation than the mini-banking crisis last year. Ally ticked down on their commentary about auto loan delinquencies rising which represent a material amount of their assets.
More broadly, bank stocks getting sold due to JPM suggesting that their NII (Net Interest Income) will be lower next year due to rate cuts.
So no new news, but the market is reacting to banks reacting
Bank stocks leading the drive down with Ally bank down some 18%, but this is a far different situation than the mini-banking crisis last year. Ally ticked down on their commentary about auto loan delinquencies rising which represent a material amount of their assets.
More broadly, bank stocks getting sold due to JPM suggesting that their NII (Net Interest Income) will be lower next year due to rate cuts.
So no new news, but the market is reacting to banks reacting