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Some top US banks are preparing for an economic slowdown amid depressing forecasts of fourth-quarter profits, due to be released this week.
“With most US economists forecasting either a recession or significant slowdown this year, banks will likely incorporate a more severe economic outlook,” wrote Morgan Stanley analysts, as cited by Reuters.
The six largest US lenders are also expected to report an average 17% drop in net profit in the fourth quarter from a year earlier, according to preliminary estimates from Refintiv.
