Quote: May 24, 2023

“Banks have a very small sandbox with which to play, and they have to either have something on hand, or something to get rid of. Banks will probably need to hold on to more liquid assets in the future, and mortgages will probably become more attractive than Treasuries. Over the next year, I expect an asset build.”
–Nicholas Maciunas, Executive Director with JPMorgan Chase, New York.