Yield curve compression is putting the banking sector in the news as financials join a market-wide sell-off. The bad news day offers a chance to re-examine the bull case for M&A in the industry. Bank deals lagged historical value in the first quarter this year due, at least in part, to low interest rates, which place revenue pressure on lenders. And recent news reports point to a more tangible problem for financial institutions: after years of consolidation, there are simply fewer logical targets for would-be acquirers. Can the defensive M&A wave continue in the face of these headwinds?
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