The attached chart shows the yield on the US 10yr outright over the last 20 years while also putting the relative "steepness" of the US Treasury curve in perspective.
While it is correct to point out the challenges faced by banks in the post-2008 regulatory world and it is arguable that they face other major threats to earnings from "fin-tech" disruption, you can't necessarily say banks are seeing unprecedented pressure on their core lending business from the flat yield curve.
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