American banks’ shares are performing twice as poorly as the market. telisdemos explains how the coronavirus is making banks rethink their strategy. WSJWhatsNow
American banks’ shares are performing twice as poorly as the market. So much for diversification.
As banks continued to rise throughout 2019, even as interest rates tumbled, the talk was of their success in diversifying their businesses. Falling interest rates certainly hurt, but banks seemed to always have something to offset it, ranging from a boost to trading desks, mortgage-refinancing volumes, buoyant credit cards or a shift from cash into securities.
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