They’re singing the same song on Wall Street that they are in Flushing, Queens: “Just wait ’til next year!”
While beleaguered fans of the New York Mets are starting off the season hankering for another trip to the postseason, bankers are just hoping one day the Federal Reserve will follow through on predictions that it will raise interest rates, and provide a badly needed boost to Wall Street banks’ net interest margins.
The largest Wall Street banks are all facing lower earnings projections for the first quarter of 2016 than what they reported the prior year.
