Financial companies are on track to record their longest winning streak since 2010 and ETFs have noticed this.
ETFs that monitor banks and insurers are set to register their first month with incoming cash flows for more than a year. The end of this dry period comes because the S&P 500 Financial Sector Index is heading to the sixth consecutive week in green, something that has not been seen for 9 years.
Reduced fears of recession helped bank stocks as well as better-than-expected earnings reports. Corporate earnings for the first quarter were positive, with credit remaining good, price well controlled, and steady growth.
Source: Bloomberg Finance L.P.
Graphics: Used with permission from Bloomberg Finance L.P.
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