Oakmark Portfolio Manager says there are two things pressuring banks: Credit concerns and interest rates
Tony Coniaris, portfolio manager of the Oakmark Select Fund, joins 'Squawk on the Street' to talk about the state of the markets and his overview of bank fundamentals. "Here's two things that are pressuring the bank fundamentals today. Number one is credit and credit concerns, number two is interest rates. If you look at the banking sector, especially the large banks in the U.S. today. It's one of the few areas where I see 40-50 percent upside on very conservative assumptions," Coniaris said.