Bank "residual" (assets minus liabilities or, wealth or, capital) is at a new, all-time high.
So the wealth of the U.S. banks continues to climb, but bank stocks are languishing. They are among the most undervalued stocks in the market.
And the narrative now is comical, particularly today. When rates were rising and banks were faltering everyone said it was because of rates. Now that rates have been falling, everyone says...it's because of rates.
When you hear nonsensical (and contradictory) rationale such as this, you have to take the opposite side. U.S. Bank stocks are bargains.
