- A guarded "no," argue KBW's Frederick Cannon and Matthew Dinneen. "It is beginning to be difficult to envision an environment where earnings headwinds, regulatory pressure, the structure of interest rates and investor sentiment get worse for universal banks ... [Further] credit conditions are likely to improve through 2015. Thus it is a good time, in our view, for contrarians to take another look at universal banks."
- RBC's Jonathan Golub has 4.5 reasons to like the banks: 1) Rising rates will benefit; 2) Loan growth is set to accelerate (the team notes eased C&I lending standards); 3) Capital returns; 4) Credit improvement; 4.5) M&A activity is picking up, through trading business remains sluggish.
- ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, IAI, SEF, IYG, FXO, FNCL, FINU, KCE, RWW, RYF, KBWC, FINZ