With the economy holding up, why is the market still so down on America's banks?

📆 9/10/2023 10:52 AM
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Bank stocks have been stressed by bond rating agency downgrades and real estate concerns. A brief rally in May faded, but was it the better signal?

"We have limited office exposure with … almost no delinquencies,"

The share of U.S. workers working from home at least part of the week has stabilized at around 20-25%, below its peak of 47% in 2021 but well above the pre-pandemic 2.6%, Goldman's Hatzius wrote in an Aug. 28 report. With CEOs as prominent as Amazon's Andy Jassy becoming more forceful about return to office, Goldman says online job postings are down to only 15% of new positions allowing work from home.

Others argue that the slow rate of foreclosures is normal early in what they believe is a long-term crisis.

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