real-time news and commentary for investors
Wednesday, Sep 11
Regional players liking rising rates
- Stung in one area of their business by rising rates as refinance business evaporates, regional banks are overall pleased with the steeper yield curve. Presenting at various conferences yesterday, players like FITB, BBT, MTB, and RF say they can now reinvest money at those higher rates.
- Fifth Third transcript and presentation slides.
- "Our forecast doesn't show short rates moving until at least the latter part of 2014 and probably into 2015," says Regions CFO David Turner (presentation slides). "We do benefit from the steepening of the curve."
- ETFs: KRE, KBE, KBWB.