The document provides an analysis of the Price-to-Book (P/B) and Return on Equity (ROE) of S&P 500 Banks and Financials, discussing the implications of Federal Reserve rate hikes on bank earnings. It highlights the competitive nature of banks, the valuation based on steady-state PEs, and the impact of interest rates on earnings per share (EPS). The document also addresses the potential effects of energy credit losses and recession on loan loss provisions (LLPs) and bank valuations.
documents/vol00010-efta01459746-pdf.pdf
{"title":"US Equity Insights","document_date":"2016-02-08","document_type":"tabular","key_organizations":["Deutsche Bank","S&P 500"],"reference_numbers":["DB-SDNY-0120405","SDNY_GM_00266589","EFTA01459746"]}