KBW Bank Index Up by 175% from March Bottom
As another sign of increasing stability and strength in the U.S. banking sector, the KBW Bank Index (^BKX) has closed above 50 for the last four days, and is trading today above 51 for the first time since November 13, 2008. From the March 2009 bottom of 18.62, the KBW Bank Index has increased by 175%.
2 Comments:
Quite an impressive run by the banks and a new leg has begun about two weeks ago. Stocks like Goldman Sachs have taken off while their earnings expectations are falling. Its an industry trend.
You're showing a market trader vehicle and claiming this somehow relates to an economic condition. We both know that suspension of FASB rules, allows banks to hide losses related to mark-to-market.
It would be wiser to note that even with zero cost of borrowing, and a solid spread, banks that are not headline news, cannot pay back TARP funds on time:
http://blogs.wsj.com/marketbeat/2010/03/18/number-at-noon-82/?mod=yahoo_hs
and it's getting worse, judging from the real numbers from real banks.
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