Banks Profit From Low Expectations in Rough Environment

The transcript discusses the current state of bank profitability, noting that banks have exceeded low expectations primarily through cost-cutting. It highlights the challenges posed by a flat yield curve and delayed Fed rate hikes, predicting no rate hikes until at least 2017. The bond market is seen as a viable investment, offering diversification and returns even at low yields. The discussion suggests a conservative shift in investment strategy, moving away from high yield and non-US equities due to uncertainties like Brexit, and focusing on investment-grade options.

What adjustments does the speaker suggest for investment strategies?

What impact does Brexit have on European growth according to the speaker?