U.S. Large-Cap Banks: Jason Goldberg's Bank Brief | Volume 23, Issue 113 | 6.24.26

Research evidence excerpt

U.S. Large-Cap Banks: Jason Goldberg's Bank Brief | Volume 23, Issue 113 | 6.24.26

Equity Research

24 June 2026

U.S. Large-Cap Banks

Jason Goldberg's Bank Brief |

Volume 23, Issue 113 | 6.24.26

GS to reportedly see robust equities trading quarter; U.S. Large-Cap Banks

Moynihan says consumer continues to spend; MS caps $7bn POSITIVE

private credit fund after 11.6% exit request; JPM pushes back U.S. Large-Cap Banks

Jason M. Goldberg, CFA

on STWF, etc; Fed to reorg Division of Supervision & +1 212 526 8580

Regulation; Bair cautions on bank capital redux; Stress test jason.goldberg@barclays.com

BCI, US

tonight...

Daily Dose

Quote of the Day. “In the month of May, they're (the BAC consumer) spending about 5% more

than they spent last May. And for the first quarter, it was the same, the month of April, it was the

same. So, they're continuing to spend money. They had to shift a little bit more to gas. And

when you look across different cohorts of income earning households, obviously, we do a third,

a third, a third. he lower third is more impacted by the gas prices. It's more of a burden on them,

and that's an affordability question, but the other two thirds are less, because they have bigger

incomes in there for gas…They are spending strong. So, we see the consumer continuing to

spend. And so they are concerned about prices, or concerned about affordability, but there's

still spending money, and that really comes down to the unemployment rate in this country is a

very low level, and it isn't getting worse. In other words, employment's very stable. People are

getting paid more money. ~ BAC CEO Brian Moynihan in an interview with Time magazine

posted yesterday (additional quotes below)

Quote of the Day. “Banks are profitable, and they come in and say, ‘We don’t need all this