Large Banks Drive Asset Growth, Rate Concerns Persist

U.S. bank assets rose 3.5% in the first quarter to $26.145 trillion, the industry’s fastest growth rate since the second quarter of 2020, with more than 85% of aggregate growth coming from seven large banks, S&P Global Market Intelligence wrote.

Another S&P article discussed how bank stocks trailed the broader market last week as inflation and energy prices reduced expectations for Fed rate cuts, raising the risk that deposit cost relief stalls and loan demand slows.