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Banks Are Loving 2020 Market, but Market Doesn’t Love Them Back

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Among 2020’s many oddities, add this paradox: The stock market is crushing the banks, even as the banks are crushing it in the market.

After warning that their trading revenues would fall steeply from the second quarter, several top banking executives recently said that the third quarter

wasn’t as bad as they had feared. Clients remained active through the normally dull July and August, and September delivered a fresh bout of market volatility.

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They love Gov backed securites, where they stand to profit, either way. They get a percentage of these loans or charge fees to process them, I assume. Much larger than the ones for loans they personally issue, plus they are also filing false claims, one would assume, secretely?

Interest rates are near zero, and economic growth is still stagnant. What's to love?

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