BAC Research Note — Rates Complicate the Strength
BAC keeps producing, but the highest thirty-year Treasury yield since 2001 makes the balance-sheet tradeoff harder.
Financials
BAC Deep Coverage Review — Analysis as of August 14, 2026
Eight straight earnings beats support BAC while a 5.216% thirty-year yield keeps the securities-book debate unresolved.
JPM Research Note — Quality at a Full Price
JPMorgan’s operating strength remains clear, but peak valuation and incomplete credit visibility leave little room for disappointment.
JPM Deep Coverage Review — Analysis as of August 10, 2026
JPMorgan’s franchise remains exceptional, while a record multiple and incomplete credit visibility raise the proof bar.
FITBPA Research Note — Credit Holds, Rates Decide
Fifth Third credit remains sound, but FITBPA closed near a fresh one-year low as long Treasury yields kept pressure on perpetual preferreds.
FITBPA Deep Coverage Review — Analysis as of August 10, 2026
FITBPA offers sound issuer credit and a 6.66% current yield, while a fresh one-year low shows that perpetual duration still controls valuation.
BAC Research Note — Regulatory Risk Enters the Frame
BAC’s operating record remains strong, but its August 3 filing adds an unquantified OCC penalty risk near a 52-week high.
BAC Deep Coverage Review — Analysis as of August 7, 2026
BAC’s 17.0% return on tangible equity supports the thesis, while an August 3 filing adds an unquantified OCC regulatory risk.
SCHW Research Note — Lending Meets the CPI Test
Record results and sweep growth strengthen Schwab’s thesis, while lending sensitivity and an extended tape raise the August evidence bar.
SCHW Deep Coverage Review — Analysis as of August 7, 2026
Schwab’s funding repair gained direct evidence while lending-led margin growth and an extended tape face the August inflation test.