Comerica Can’t Fight the Fed

As U.S. interest rates started rising from rock-bottom levels in 2016, investors gravitated toward banks that would benefit the most, such as Comerica. Now, market forces are pushing in the opposite direction.

The regional business lender, with its main operations in Michigan, California and Texas, is known to analysts as one of the lenders most sensitive to interest rates. This is thanks largely to its high concentration of commercial and industrial loans, which tend to reprice automatically along with short-term benchmarks…

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