Morning Scan: Big-Bank Stocks Stay Cheap; Moynihan: Big Is Good

Wall Street Journal When fears hit a fevered pitch last month that the Federal Reserve could opt to enact sub-zero interest rates, the big-five banks Â-- Bank of America, J.P. Morgan Chase, Citigroup, Goldman Sachs and Morgan Stanley Â-- traded at a remarkably cheap average valuation of 0.66 times book value. But after the Fed on Wednesday announced that it would not only raise interest rates but do so at a slower pace than was otherwiseÂ...