SOURCE: Wall Street Equity Research

Wall Street Equity Research

December 01, 2010 08:02 ET

Professional Research on KeyCorp and Wells Fargo & Company -- US Banks Seem Resistant to European Banking Crisis for Now

JOHANNESBURG, SOUTH AFRICA--(Marketwire - December 1, 2010) - www.wallstreetequityresearch.com allows shareholders to gain full understanding of the economic and market forces influencing the money center banks industry, and offers free research on industry players KeyCorp (NYSE: KEY) and Wells Fargo & Company (NYSE: WFC). Register today at www.wallstreetequityresearch.com to receive free research reports on these companies.

There is some anxiety amongst US investors that the European debt crisis has yet to cause significant problems for US banks. In fact, credit spreads for most major US banks tightened this week. On average, US banks' credit spreads tightened by 2% - 4%. Some analysts are concerned that the risk aversion trends seen in Europe may eventually trickle over to this side of the Atlantic. At the moment though, major US banks have not been significantly affected.

www.wallstreetequityresearch.com is a specialized website where investors can have complete access to free reports on money center banks industry; traders looking for analyst opinions on KeyCorp, Wells Fargo & Company and other players in the industry are welcomed to sign up for a free one year membership at http://www.wallstreetequityresearch.com/.

The current concerns amongst US banks are domestic ones. At the beginning of November, the Federal Reserve pledged to buy $600 billion in Treasury securities. The move was aimed at improving, or at the very least, stabilizing Treasury securities but inexplicably sent prices falling. The price drops caused a flurry of activity amongst investors away from Treasury securities and towards other bonds. The activity was concerning to US banks which have made major strides towards stabilization. Visit us at http://www.wallstreetequityresearch.com/ to understand the catalysts and forces driving or affecting money center banks stocks.

The one upside to the current rounds of financial anxiety has been a rising consumer preference for savings accounts. Deposits amongst US banks rose recently as consumers seem to prefer a safer place to store their money as well as quicker access to it. Overall, US banks have remained relatively unaffected by the European debt crisis but anxiety still looms. 

Looking at results for the third quarter 2010, KeyCorp saw a profit of $219 million for the quarter, whilst Wells Fargo & Company saw profit grow by 3% to $3.34 billion. Shareholders and investors can sign up today at http://wallstreetequityresearch.com/December012010KeyCorp(KEY)011210.php or http://wallstreetequityresearch.com/December012010WellsFargo&Company(WFC)011210.php to download the full reports on KeyCorp and Wells Fargo & Company.

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