Tuesday, August 11, 2009

Bank Index Hits 8-Mo. High, Up 144% from March

The KBW Bank Sector (BKX) Index is a capitalization-weighted index composed of 24 geographically diverse stocks representing national money center banks and leading regional institutions including Bank of America, Citigroup, Comerica, JP Morgan Chase, Wells Fargo, etc.

The KBW Index closed yesterday (Monday) at almost an 8-month high of 45.53, the highest close since mid-December 2008. From the bottom in early March, the KBW Index is up by a whopping 144.5% (see chart above). Yet another sign that the U.S. financial sector is healing, and another sign of general economic recovery taking place in the U.S. economy and financial markets.

Originally posted at Carpe Diem.


At 8/11/2009 11:15 AM, Anonymous Anonymous said...

So go sink your savings into a block of FAS!

At 8/11/2009 11:57 AM, Anonymous Anonymous said...

LOL! Link back to this post on the last day of this year and either brag or bawl.

My bet is that you will be bawling.

I promise to come back and eat crow, or gloat about your short-sightedness.

Banks are being propped up by government right now. As defaults continue, the summer rush cools, and unemployment pushes past 11 percent, those Financials are going to tumble!


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