“The reflation trade (BKX besting the UTY by 410bps) posted its best day since November 30th, 2016 just weeks after the election. Next week’s rate hike is all but a lock but the question will likely shift to how many more hikes to expect before the tightening cycle ends. With inflation creeping higher we could see banks continue their recent outperformance adding the their 110 basis point outperformance over the S&P over the last week.” Justin Wiggs
BKX pct change less UTY pct change
Bottomline:BKX & XLF TD 13 buy and bullish price flip… BKX TD 13 buys ? Start w/ JPM, BAC and HBAN and work from there.
BKX Index : KBW Bank Index