Economics
The Big Long: Bank Trade Gets Liftoff in Stocks as Fed Tightens
- ETF flows and options volume climbing for financials
- Banks overtook technology as most favored in fund survey
The Fed Rate Hike in Two Minutes
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Seven years after American banks brought the global economy to its knees, stock investors want nothing more than to own them again now that the Federal Reserve is back to raising interest rates.
The country’s biggest financial stocks have surged more than 5 percent in two days, an early payday for bulls who have piled in on speculation the end of zero-percent rates will stoke a profit revival. Securities tracking the industry have attracted $1.7 billion in the past month, the most among 12 sectors tracked by Bloomberg except energy.