Put another way, the Federal Reserve’s restrictive monetary policy is tightening financial conditions by design. The two-month damage to stocks thanks to even higher longer-term bond yields — while the US dollar soars — has pushed a Goldman Sachs Group Inc. index of cross-asset health to the most sluggish level of the year.
AMCs and brokerages outperforming despite lending challenges: Digant Haria
This year it is not going to happen. And which is why, yes, the sector is getting narrower and narrower. In the large banks, the