### Comment:
It's the natural result of an inverted yield curve. Data isn't out yet, but there's some anecdotal evidence I have that banks are scaling back, but it's so anecdotal I'd look stupid posting it.  I didn't downvote you btw, don't know who did that.

### REPLY:
Retail banking is still doing okay since the housing market hasn’t been affected yet. But in some places fixed term has lower rates than variable rate mortgages. That’s a very telling sign of an impending earnings crunch for banks. 
  
 Furthermore, global banking and markets are already in an earnings recession for a lot of banks.  
  
 This time is different from 2016.

### END.