With the 10-Year at 5.2%, Big Bank Earnings Show Wide Dispersion So Far

Since 1993, banks beat the S&P 500 by an average of 8.0 points over the next 12 months after month-ends with the 10-year above 5%, but that rests on seven episodes, with 68 of 105 months in 1993 to 1998. In today's 5-to-6% band the edge was 0.1 points.