JPMorgan, Bank of America's Veiled Losses on Bond Holdings Pose Valuation Risk [TheStreet.com]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: TheStreet.com
The impressive earnings reports released this month by JPMorgan Chase & Co. ( JPM ) , Bank of America Corp. ( BAC ) , Citigroup Inc. ( C ) and Wells Fargo & Co. ( WFC ) disguise a hidden threat for investors in bank stocks: billions of dollars of paper losses on the combined $1.2 trillion of bonds and loans they hold as investments. As the Federal Reserve pushes interest rates higher, those losses are poised to swell, possibly leading to drastic cuts in banks' valuation. It's simple bond math: bond prices fall when interest rates rise. And thanks to creeping fears of a surge in inflation and nervousness among investors about the U.S. government's $21-trillion-and-growing debt, interest rates have been climbing -- fast. While bank executives and most Wall Street analysts have been arguing for years that banks would benefit from higher interest rates in the form of fatter loan payments, the third-quarter results show that the trend can also bring damaging losse
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WFC
News
- Muni Funds Lose Most Cash Since 2022 With Fed Delaying Cuts [Yahoo! Finance]Yahoo! Finance
- Muni Funds Lose Most Cash Since 2022 With Fed Delaying Cuts [BNN Bloomberg (Canada)]BNN Bloomberg
- Oil Tests Central Bankers' Nerves With Mideast on 'Knife Edge' [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Oil Tests Central Bankers' Nerves With Mideast on ‘Knife Edge' [Yahoo! Finance]Yahoo! Finance
- Oil Tests Central Bankers' Nerves With Mideast on ‘Knife Edge' [BNN Bloomberg (Canada)]BNN Bloomberg
WFC
Earnings
- 4/12/24 - Beat
WFC
Sec Filings
- 4/17/24 - Form 424B2
- 4/17/24 - Form PX14A6G
- 4/16/24 - Form 3
- WFC's page on the SEC website