According to CoinMeta, KBW CEO Tom Michaud stated that banks will continue to face pressure before the third-quarter financial reporting season until interest rate prospects stabilize. He noted that since July 15th, bank stocks have underperformed by 10 percentage points, but this selling off reflects nervousness about interest rates rather than weak fundamentals. Michaud expects investment bank profits in the third quarter to grow by about 10% year-on-year, thanks to the backlog of private equity. He also mentioned that KBW used artificial intelligence to analyze the second-quarter financial reports and found that the mention of net profit margins was 60% higher than the average over the past three years. Meanwhile, Michaud believes that although the unrealized losses in the bond market reached 19% of the industry's tangible capital in 2023, large banks have already optimized their capital, while regional banks do not need to slow down their buyback processes.