Banks Are Trading As If A Recession Is Underway & Earnings Preview

<p>"Third quarter 2022 EPS preview for banks: I am looking for a series of wide swings in major earnings components and I expect net interest income to be up mid-to-high-teens. Also, I am looking for regional banks EPS to be down 5% to 10% year-over-year and multinational banks to be down 20% to 25%. This has to do with a weaker economy and a weaker consumer as unemployment is likely to rise to the Federal Reserve aggressive stance," says Stephen Biggar.</p>