Big Bank Profits Dip in Q1 But Seen Rebounding in 2024 as Rates Rise

• Big bank profits likely fell in Q1 2024 vs Q1 2023 but should improve over remainder of 2024 • Investors not worried about Q1 decline, more focused on full-year 2024 outlook • Fewer expected Fed rate cuts in 2024 benefits big banks' profits • Regional banks face more struggles than large banks in higher rate environment • Trading revenues down but debt underwriting up for big banks in Q1