Last week gave us one of the oddest pairings of financial news stories in some time. The better the earnings of U.S. banks, it seems, the more nervous investors get about the banks’ health.
First, we learned from the Federal Deposit Insurance Corp. on Nov. 22 that U.S. lenders had their most profitable quarter since mid-2007. The same day, the Federal Reserve sought to bolster confidence in the financial system with new stress tests at the 31 largest U.S. banks. The Fed said it will publish the results for the 19 biggest bank-holding companies next year, marking its first such exercise since spring 2009.
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