With all the noise from Wall Street execs and their bonuses the landscape isn’t looking so shiney for main street. We have had the stress of the biggest stock market point crash ever and now we see 30 year loans are at their highest since Jan 2014. no wonder applications 4.1%
PNC Financial $PNC reported better than expected fourth quarter earnings before the bell on Friday ahead of Wells Fargo $WFC and JPMorgan $JPM. Beats on margins, worries linger on Tax effects.
Bank of America $BAC, America’s second-biggest bank by assets reported better than expected third quarter earnings before the bell on Friday ahead of Wells Fargo $WFC and PNC Financial $PNC. The stock was up premarket.
The World Bank warn the steep growth of shadow banking could trigger a debt crisis in China in it’s October report on the East Asian and Pacific economies. They see Chinese debt levels and it’s “shadow banking” as one of the greatest threats to regional prosperity.