Dour earnings expectations mark a change from the previous quarter, when big banks returned fat profits despite worries about an economic downturn in the US
The biggest American banks report earnings this week, and they will probably be hampered by weaker economic growth and lower interest rates. The Federal Reserve cut interest rates in July and again in September, making it more difficult eke out returns on loans.The dour earnings expectations mark a change from the previous quarter, when big banks returned fat profits despite worries about an economic downturn in the United States. Tuesday is the big day.
That would set the stage for a general election, and potentially, another referendum that would give British voters the chance to call the whole thing off."At this stage, it remains more likely that Brexit will be delayed again to make way for a snap election and/or a second referendum in the next months," analysts at Berenberg bank wrote on Friday.Mind the pound: Market reaction could be strong, depending on how events unfold.
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