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More than 2 years after the U.S. financial sector was nearly brought to its knees, many of the industry’s heavyweights are still feeling its effect. And in the wake of the bank earnings season, Jaime Peters, Analyst at Morningstar, talks to BNN about what problems continue to haunt the financial sector and what investors can expect moving forward.
“I think they’re [financials] performing very well…the big concern now is revenue,” she said. “The reality is that it’s going to be challenging from here on out for banks to post any sort of gain in revenues…people are just not borrowing money.”
Peters said the biggest disappointment among the financials was Bank of America (BAC-N).
“If housing prices continue to fall then it’s likely they’ll see additional charges [on mortgage-backed securities],” she said.