RE:DID not see this coming...no that's not it, you have to look at this in the whole market context. we have a dovish rate comments stance from powell yesterday, this is setting us up hopefully for a year end rally back to sp 500 4600. It's a lift all boats last 2 days which is why banks are moving too. all the laggards are moving along with everything else.
2024 does not look great for C banks with maortgage cycles for foreseeable future, when provisions peak quarter over quarter. and the trend reverses bottom will be in. I dont think we're there yet