banks invariably get caught up in the negative sentiment when the economy looks like it will deteriorate. it's just one of those things...some investors start to fret 'what happens to the bank' if a recession (or the always on the horizon depression) occurs. I wouldn't be surprised at all if that continues to happen.
recession might happen and we start to get some increased incurred credit losses and increased provisions...but between now and then at least we have all that lazy regulatory capital (that has just been chilling out earning nothing) start to earn some actual interest income as rates rise. that'll be good, and probably be a few relief rallies after earnings announcements, before the drift sets back in again.
Happy holder - but not accumulating, yet.
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