America’s bankers are riding high. Why are they so worried?
It might seem like a wonderful time to be an American investment bank. Over the past year, the country’s lenders have handed shareholders gains of 27%, far outstripping the 10% for other stocks outside the technology sector. They have ridden a wave of strong interest income, heavy trading and a surge in dealmaking. Soon they will face less red tape, too. Viewed in this light, conditions could hardly be better.
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