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Goldman Sachs, Morgan Stanley lead US bank rally after stress test

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U.S. bank shares outperformed the broader market on Monday, led by Goldman Sachs and Morgan Stanley, after the Federal Reserve said stress test ...

U.S. bank shares outperformed the broader market on Monday, led by Goldman Sachs and Morgan Stanley, after the Federal Reserve said stress test results meant the sector could resume stock buybacks for the first time since the coronavirus-led downturn.

This was its second bank"stress test" for 2020, the first time the Fed has done two in a year since annual health checks began after the 2007-2009 global financial crisis. "Overall, the amount of share buybacks the Fed's math suggests the big banks will be able to make in the first quarter of 2021 is good news for the group," said Harte.

 

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