Citigroup and Bank of America barely moved — these two major U.S. bank stocks didn't move much today amid regional bank concerns, trading very flat. The positive movement in the yield curve is beneficial for net interest margins, but the capital adequacy ratio pressure and non-performing loan ratio of the big banks have not truly eased. Will the soft-landing narrative continue to support net interest margins in the second half of the year, or will recession fears flare up again? I guess it will still be a soft landing — but we need to observe the June credit data one more time.
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