Yesterday’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), 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.
via http://ift.tt/2gGIZaO Tyler Durden