Banking Analysts Dissect Industry Trends as Sector Faces Regulatory and Economic Headwinds

Banking Analysts Dissect Industry Trends as Sector Faces Regulatory and Economic Headwinds

Marc Rubinstein's Net Interest podcast released its latest episode this week featuring a conversation with two veteran banking analysts who've spent years tracking the sector's evolution through multiple cycles.

John McDonald and Brian Foran, both research analysts at Truist Securities covering U.S. banks, joined Rubinstein for the 18th episode of Net Interest Extra on February 17. The nearly hour-long discussion comes as finance chiefs at banks navigate a complex operating environment marked by shifting interest rate expectations, evolving regulatory frameworks, and questions about loan quality across different asset classes.

The podcast represents one of the few public forums where sell-side analysts who advise institutional investors discuss their frameworks for evaluating bank performance—insights that typically circulate only in private client calls and research notes. For CFOs and finance leaders, understanding how the Street views banking trends offers a window into how their own institutions might be valued and what metrics investors are prioritizing.

Rubinstein, who has known both analysts "for a long time" according to the episode description, brings his own deep banking expertise to the conversation. His Net Interest publication has become required reading for finance professionals trying to decode developments in banking, asset management, and capital markets.

The timing of the discussion is notable. Banks are in the midst of their post-earnings quiet periods following fourth-quarter 2025 results, but analysts continue refining their models and outlooks for the year ahead. The first quarter of 2026 has already brought renewed volatility in rate markets and ongoing debate about credit conditions, making analyst perspectives particularly valuable for finance teams planning their own institutions' strategies.

McDonald and Foran's dual appearance is unusual—most podcast formats feature single guests. Their joint presence suggests the conversation likely explored areas where their coverage overlaps or where they hold differing views on sector trends, though the specific topics discussed weren't detailed in the episode announcement.

The episode is available only to paid subscribers of Net Interest, reflecting the premium nature of detailed banking analysis in an era when generic financial commentary is abundant but nuanced sector expertise remains scarce. For finance leaders, the paywall underscores a broader trend: the most valuable industry intelligence increasingly sits behind subscription barriers as expert analysts monetize their insights directly rather than relying solely on traditional research distribution models.

The conversation adds to Rubinstein's growing archive of expert interviews, which have previously covered topics ranging from private equity returns measurement to passive investing dynamics and private credit markets—all areas where CFOs need to stay current as their own firms' financing and investment strategies evolve.