Funding & Business
Regional Banks’ Torrid Rally Draws Bearish Bets as Earnings Loom
A breakout rally in the shares of US regional banks may be setting investors up for disappointment, according to some Wall Street strategists, who recommend betting on a pullback in the sector as earnings season gets underway.
The SPDR S&P Regional Banking ETF (KRE), an exchange-traded fund that tracks the performance of Main Street lenders, is up more than 8% over the last month, nearly double the S&P 500 Index’s gains over the same period. Tailwinds for the sector include the prospects of an M&A boom, an easier regulatory environment and expectations of higher-for-longer interest rates.
This is what your gold is for.
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A second tanker carrying liquefied natural gas from a US-sanctioned Russian export plant arrived in China on Saturday, as Beijing continues to expand its relationship with Moscow in defiance of Washington.
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China is investigating Yi Huiman, its former top securities regulator, according to state broadcaster CCTV, more than a year after his surprise removal from the post.
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