Club holding Wells Fargo will post quarterly results on Friday, followed by our other financial holding, Morgan Stanley, on Tuesday.
In theory, higher borrowing costs mean Wells Fargo can generate more money from those interest-earning assets, but it's not that simple.
It's hard to say with the fluid inflation and rate expectations whether Wells Fargo might change its NII outlook when it reports on Friday.
Wells Fargo also has a key long-term growth prospect in the potential removal of its $1.9 trillion Fed-imposed asset cap.
A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020.
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