RE: Big turnaround from the morning peaks13 Jul 2021 17:12
UK banks aren’t US banks and anyone expecting a big increase in payouts needs to temper their optimism, which probably helps explain why despite an initial move higher, the bulk of, if not all of today’s gains have disappeared, for Lloyds, NatWest Group and Barclays, probably as a consequence of what is happening to yields, after today’s US inflation report, which has seen short term rates rise and long term rates decline, thus flattening the yield differentials which allows banks to maximise their profits