Filed under: Earnings reports, Market matters, Economic data, Housing, Recession, Financial Crisis

Several banks, including Wells Fargo & Company (NYSE: WFC), J.P. Morgan Chase & Company (NYSE: JPM), Goldman Sachs (NYSE: GS), and Citigroup, Inc. (NYSE: C), have reported earnings that beat expectations substantially. All earnings were down compared to last year but much less than what the experts were expecting. The stock market reacted to these earnings reports like gasoline on a fire and exploded to the upside.

Is this the beginning of a new bull market? Anything is possible. However, let’s analyze the situation. With a steep yield curve and low short-term interest rates, it would be very difficult for major banks not to make money on an operating basis in this environment.

Continue reading Bank news: Focus on the assets, not the earnings!

Bank news: Focus on the assets, not the earnings! originally appeared on BloggingStocks on Fri, 17 Apr 2009 17:45:00 EST. Please see our terms for use of feeds.

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This entry was posted on Friday, April 17th, 2009 at 7:40 pm and is filed under Real Estate and Housing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.