“We think the bank’s current valuation of 2.9x FY24E BVPS (pure bank) does little justice to its compounding potential and low balance-sheet risk,” said BNP Paribas Securities in a note to clients.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend