Rising bond yields are typically indicators of stronger economic growth and higher profits for banks. That might not be the case this time, as a 30-year bull market in U.S. government debt shows signs of coming to an end.
Comerica Inc. , the Dallas-based bank that posted annual profits throughout the financial crisis, became the first of the largest U.S. lenders to raise its dividend, doubling the payout to 10 cents. The stock climbed.
Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley lagged behind peers in a key measure of capital strength used by U.S. regulators to stress- test their resiliency in a severe recession.
Wells Fargo & Co. is seizing a bigger share of U.S. corporate bond sales, underwriting its highest portion of deals on record this year as the bank climbs the ranks after buying Wachovia Corp. in 2008.
JPMorgan Chase & Co., the biggest U.S. bank by assets, reclaimed the No. 1 title by market value as the impact of last year’s wrong-way bet on derivatives fades and investors wager on an investment-banking rebound.
A U.S. Treasury Department program to stimulate job growth by injecting $30 billion into banks for small-business lending has disbursed just $2.4 billion, with lenders and industry groups saying it fell victim to the sputtering economy and overly stringent rules.