(https://www.cnbc.com/2026/07/08/weekly-mortgage-demand-drops-as-rates-remain-stuck-in-a-narrow-range.html) while the 10Y sits 36bp above the 2Y. That's the opposite signal for bank NIMs. When rates are flat, deposits stay cheap but *lending rates stop rising* — and that's where the margin death happens. $JPM reported a net margin of , $C at , and $BAC at 28.4%. But the real story isn't margin compression—it's the divergence in operating cash flow.

Research these companies