BofA was the last of the big four banks to release their second quarter earnings report in what’s been a downtrending year for financials. Last Friday, JPMorgan outperformed, Citigroup was mixed and Wells Fargo posted losses in their second quarter earnings.
Despite the challenges, some analysts are saying that financials are poised to make a comeback.
“It’s going take just a little bit of time and patience,” said John Stoltzfus, chief investment strategist at Oppenheimer, on CNBC’s “Trading Nation” on Friday. “I’m not sure exactly sure when we’ll get the yield curve to extend itself. I think we’re trapped in this flattening yield curve at this time.”
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