Banks Under Pressure from Spiking Yields Ahead of Q3 Results

Q3 earnings are expected to grow +24.6% year-over-year with broad-based strength across 15 of 16 sectors. The Finance sector faces headwinds from rising Treasury yields despite positive estimate revisions. JPMorgan, Citigroup, and Wells Fargo will kick off Finance sector reporting on October 13th, with concerns about bond portfolio losses and margin compression offsetting benefits from higher rates.