Higher interest rates are not good for financials. Higher interest rates mean more loans go into default, and lower prices for the assets collateralizing the debt. They also mean lower loan volume. Higher rates will crush bank profits.

Higher interest rates are not good for financials. Higher interest rates mean more loans go into default, and lower prices for the assets collateralizing the debt. They also mean lower loan volume. Higher rates will crush bank profits.

— Peter Schiff (@PeterSchiff) February 9, 2018