Blog — 7 Mar, 2023
Insight Weekly: US bank margins rise; smartphone shipments drop; coal miners book strong sales
By Sarah Cottle
Today is Tuesday, March 07, 2023, and here’s your weekly selection of essential intelligence on financial markets and the global economy from S&P Global Market Intelligence. Subscribe to be notified of each new Insight Weekly.
In this edition of Insight Weekly, we take a close look at some key metrics for U.S. banks during the fourth quarter of 2022. Net interest margins increased as the benefit of higher interest rates boosted earning-asset yields. Six banks and thrifts recorded an adjusted Texas ratio — used to measure a bank's ability to absorb future losses — above 100%, compared to 15 in the previous quarter. Industry loan growth cooled as banks significantly tightened underwriting standards.
Worldwide smartphone shipments declined 21% year over year in the fourth quarter due to tightened consumer spending and reduced demand. This was the largest decline for any quarter since Kagan started tracking the data in 2013.
U.S. coal producers have booked much of their 2023 sales amid solid domestic and export demand. Publicly traded coal companies reported that higher overseas sales, due in part to countries replacing Russian supplies after the invasion of Ukraine, created opportunities to move coal abroad in 2022.
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Written and compiled by Alex Virtucio
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