Charles Schwab downgraded to Sell from Neutral at Redburn

Redburn downgraded Charles Schwab to Sell from Neutral. The analyst does not see an immediate of the shares following the recent selloff given the Federal Reserve’s tightening cycle and the re-regulation of mid-sized banks. Schwab’s deposits are being replaced with expensive borrowing to avoid crystalizing paper losses on the bank’s securities portfolio, the analyst tells investors in a research note.