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American banks also win today

We wake up today to find that Barack Obama has been duly crowned Prince, sorry, elected as the next President of America. Whatever your view of that result, the fact is that it brings a sense of ‘hope over fear’ to America, and the world.

What this means long-term will be interesting, but for the UK banks the markets will be far more challenging due to the long-term high interest rates on the payback on their loans, compared to the healthier position some US banks now enjoy by comparison.

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About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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