Big banks, after nearly a decade of defensiveness, have roared back since the election. A Wall Street Journal front-pager, "Boom Time for Bank Stocks As Goldman Regains Peak," by Liz Hoffman and Christina Rexrode, captures the post-crisis milestones:

  • The winners: Goldman Sachs Group Inc., J.P. Morgan Chase & Co. and Bank of America Corp. hit fresh trading milestones yesterday that seemed unreachable during the crucible of the financial crisis.
  • The records: "Goldman hit a record high, passing a bar first set in 2007 before the financial crisis. J.P. Morgan also hit an all-time closing high. ... Bank of America's market value is on the cusp of retaking it's all-time high."
  • The reason: "Investor expectations of higher interest rates, lower taxes, lighter regulation and faster economic growth under the Trump administration."
  • The result: $280 billion in combined market value added to the nation's six largest banks since Nov. 8 ... "Bank stocks overall have outperformed broader stock markets since the election."

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Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 11:30 a.m. ET: 11,662,574 — Total deaths: 539,058 — Total recoveries — 6,336,732Map.
  2. U.S.: Total confirmed cases as of 11:30 a.m. ET: 2,948,397 — Total deaths: 130,430 — Total recoveries: 924,148 — Total tested: 36,032,329Map.
  3. Axios-Ipsos Coronavirus Index: Our response is becoming more polarized.
  4. Business: Breaking down the PPP disclosure debacle — Trump administration invests $2 billion in coronavirus drugs.
  5. World: Brazil's President Bolsonaro tests positive for coronavirus.
18 mins ago - World

Brazil's Bolsonaro tests positive for coronavirus

Photo: Andre Borges/NurPhoto via Getty Images

Brazilian President Jair Bolsonaro announced Tuesday that he tested positive for coronavirus.

Why it matters: Brazil's coronavirus outbreak is one of the largest in the world, topped only by the U.S., and Bolsonaro has long downplayed the effects of the virus, pushing businesses to reopen over the last few months in order to jumpstart the country's economy.

Deutsche Bank pays New York $150 million for dealings with Jeffrey Epstein

Photo: Stephanie Keith/Getty Images

Deutsche Bank has agreed to pay the state of New York a $150 million penalty for "significant compliance failures" related to its dealings with now-dead convicted sex offender Jeffrey Epstein, the State Department of Financial Services announced Tuesday.

Why it matters: Deutsche Bank "failed to properly monitor account activity conducted on behalf of the registered sex offender despite ample" public information about Epstein's criminal history, according to regulators. It's the first time any financial institution has been penalized for its dealings with Epstein.