Lower quality, high risk banks, that struggled for performance last year, are now performing better ...
Lower quality, high risk banks, that struggled for performance last year, are now performing better than the higher quality, stronger managed and less economically sensitive banks, according to Ian Brady, head of North American Investment at Schroders. Brady says financials are a very cyclical area and the more interest rate sensitive banks, which have done poorly in the past, are now benefiting from the Federal Reserve's aggressive round of interest rate cuts. Brady says the Bank of America was perceived as having major problems because it was one of the largest lenders in corporate Am...
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