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Financials Are Having Their Best Month Ever

Wednesday, November 30, 2016 4:49
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(Before It's News)

From Tyler Durden: Monday’s short-lived correction in US bank stocks did nothing to tarnish the shocking exuberance of the month of November.

With just 5 down days in the month (so far — with only a single trading day left), US Financials added over $275 billion in market capitalization in November – the greatest gain in the index’ history.

Following September’s bank bloodbath, Trump’s win and the subsequent surge in interest rates sparked a buying panic unseen before in bank stocks…

The only thing is…

The yield curve and credit markets are not following suit…

And credit markets…

But then again — it’s probably nothing.

The Financial Select Sector SPDR Fund (NYSE:XLF) rose $0.03 (+0.14%) to $22.24 per share in premarket trading Wednesday. Year-to-date, the largest exchange traded fund focused on U.S. financial stocks has gained 15%, versus an 8.35% rise in the benchmark S&P 500 index during the same period.

This article is brought to you courtesy of ZeroHedge.

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