"...To start, Foran provided a few context-setting slides showing that current valuations imply “a Japan-like outlook” for US banks, assuming there is not an additional crisis, whatever that may be. As you can see from the below charts, price/book ratios regressed against return on equity (ROE) figures suggest a familiar pattern (click to enlarge):
The Nomura analysts described a certain balance sheet similarity between post-crisis US banks and Japanese banks after 1992. As well as similar macro patterns in bond yields and overall price/book values, the real estate picture is familiar, too (click to enlarge):
at http://ftalphaville.ft.com/blog/2011/08/12/652026/are-us-banks-turning-japanese/
The Nomura analysts described a certain balance sheet similarity between post-crisis US banks and Japanese banks after 1992. As well as similar macro patterns in bond yields and overall price/book values, the real estate picture is familiar, too (click to enlarge):
at http://ftalphaville.ft.com/blog/2011/08/12/652026/are-us-banks-turning-japanese/
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