Shares of banks are trading lower after Bank of America CEO Brian Moynihan said at an industry conference that the company's Q3 sales and trading will be flat, and that investment banking fees will come in at $1.6 billion to $1.8 billion, down from $2 billion in Q3 2025.

'UK Chancellor Tells Bank CEOs No Decision Yet on Tax in Budget' - Bloomberg

https://www.bloomberg.com/news/articles/2026-10-06/uk-chancellor-tells-bank-ceos-no-decision-yet-on-tax-in-budget

'Private-credit worries spur Fed review'- Semafor

https://www.semafor.com/article/10/05/w2026/private-credit-worries-spur-fed-review

United Kingdom Loyalty Market Size, Spend Forecast and 100+ KPI Databook, 2026-2030 | Market to Reach US$6.47 Billion as AI Personalisation and App-Wallet Rewards Reshape Growth

The UK loyalty market is forecast to grow from US$4.19 billion in 2026 to US$6.47 billion by 2030, driven by AI personalisation, app-wallet rewards, and member-only pricing. Major retailers are shifting from traditional points-based systems to personalised savings at checkout, with mobile apps and digital wallets becoming central to engagement strategies.

Shares of U.S.-listed UK banks are trading lower amid multiple catalysts including the pound falling to a three-month low and the 30-year gilt yield surpassing 6% for the first time since 1998. Also, further concerns for the economy such as inflation, the risks of rejoining the EU, an unclear BoE rates path, and government borrowing may dampen the outlook for lenders.

Citigroup Maintains Neutral on Bank of New York Mellon, Lowers Price Target to $160

Citigroup analyst Benjamin Gerlinger maintains Bank of New York Mellon (NYSE:BNY) with a Neutral and lowers the price target from $172 to $160.

Bank Of New York Mellon Likely To Report Higher Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

BNY is expected to report Q3 EPS of $2.27 and revenue of $5.56B, up year over year, as analysts maintain mostly bullish ratings and adjust targets.