Stock futures are little changed ahead of Friday’s big bank earnings
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‘’’MarketFag commentary’’’
All big banks equity prices are supported by MASSIVE share buybacks (they are currently under blackout from doing because of earnings season). They all suffer from billions of $s of hold to maturity (HTM) bond losses and are allowed to not count them on the balance sheets because Federal Banking Regulations allow it. See Silicon Valley Bank in march this year. The biggest losses occur in the “big 6” and four of those report on a Friday so those stocks will be bought HARD. Remember the FDIC insolvency video from late last year. They will make that NONE of actual results of these fake insolvent banks are a talking point over the weekend. They all loaded up US Debt at low rates so not only has the coupon rate increased the actual value of a large percentage of bonds have lost the most value in the shortest period of time since 1787. Not a typo.
Bank earnings kick off with JPMorgan, Wells Fargo amid concerns about rising rates, bad loans
https://www.cnbc.com/2023/10/12/stock-market-today-live-updates.html