Bank stocks under-performed the broader market in the first quarter after the Federal Reserve said in March that it was pausing rate hikes for the remainder of the year.
div > div.group > p:first-child"> Here's what Wall Street expects:Revenue: $28.4 billion, a 0.3% decline from a year earlier.Trading Revenue: Fixed income $3.64 billion, Equities $1.76 billion
The abrupt shift – three months after the Fed signaled two increases for 2019 – roiled bond markets, leading to lower yields on long-term Treasuries than some shorter-term debt. That punished bank stocks, as a so-called inverted yield curve hurts the industry's profit margins and signals a possible recession on the horizon, which would cause more loan losses.
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