The Banking Sector In 2023
The banking industry has had an eventful year so far. With the crash of the Silicon Valley Bank, multiple downgrades from the S&P and Moody’s, and generally negative investor sentiment surrounding this industry, it is unsurprising how many investors have been steering clear of banking companies and stocks. However, as we have headed into the second half of 2023, some are beginning to harbor renewed hopes for the sector. There are several reasons for this renewed optimism, the primary ones being a show of resilience by US banks in the face of adversity and the analysis of some experts who believe that higher interest rates may actually be beneficial for some banks.
