Dec 24, 2020
Cheryl Pate, portfolio manager for Angel Oak Capital, says
that banks took steps to shore up their balance sheets and now are
sitting on excess reserves, which should boost earnings in the
latter half of 2021. Coupled with a positive picture on interest
rates, inflation and government oversight, she says valuations are
poised to show gains next year, although she notes that she has a
slight preference for owning financial debt versus equity in the
year ahead.