Stocks: Bank Stocks Hold Steady after Greenspan's Testimony
Talley, Karen, American Banker
Investors in bank stocks mostly stood pat Tuesday after Federal Reserve Chairman Alan Greenspan's testimony to Congress on the economy and financial reform.
Analysts said most of the action in bank stocks had occurred in a broad rally Monday in advance of the remarks. Mr. Greenspan said little to surprise investors, hinting that no action on interest rates is likely and signaling that the Fed is unlikely to change its opposition to broader powers for holding company subsidiaries. (See reports on pages 1 and 30.)
"Yesterday there was some optimism about Greenspan being able to comfort investors," said Kevin Timmons, banking analyst at First Albany Corp. "While he …
The rest of this article is only available to active members of Questia
Sign up now for a free, 1-day trial and receive full access to:
- Questia's entire collection
- Automatic bibliography creation
- More helpful research tools like notes, citations, and highlights
- Ad-free environment
Already a member? Log in now.
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information:
Article title: Stocks: Bank Stocks Hold Steady after Greenspan's Testimony.
Contributors: Talley, Karen - Author.
Magazine title: American Banker.
Volume: 164.
Issue: 36
Publication date: February 24, 1999.
Page number: 32.
© 2009 SourceMedia, Inc.
COPYRIGHT 1999 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
One moment ...
- Georgia
- Arial
- Times New Roman
- Verdana
- Courier/monospaced
Reset