NRDBY - Nordea Buoyed By Asset Management But Duration Gap Favorable

• We're beginning to look into banks as an area for taking advantage of rate hikes.
• We think rate hikes are going to be higher than the market expects to deal with inflation.
• Nordea's major tailwinds have been from markets that will be hurt by increasing rates.
• Duration gap is probably not bad in the rate based business, and overall, probably can bolster the company's income.
• For a rate surprise environment, Nordea actually looks pretty good, with a decently low multiple and sustainable, high dividend yield.

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