February was really volatile for Wall Street due to rising rate worries. It reminded us of 2013's taper-tantrum. Will we see the same in March? If yes, you can prepare your portfolio with these ETFs.
On Feb 27, the United States sanctioned Johnson & Johnson's COVID-19 vaccine for emergency use, giving the nation a third vaccine to fight the outbreak, after BioNTech/Pfizer and Moderna.
Rising rate worries have triggered a bond selloff lately and brightened the appeal for value stocks.
The banking corner of the financial space has been leading the way with most of the stocks and ETFs logging impressive gains.
Investors seeking to take advantage of the steep yield curve should bet on bank ETFs.
Bank ETFs should stay strong in the coming days on the back of cheaper valuation, Fed's signal for buybacks, Democrat's control over Senate and spike in bond yields.
President Trump signed legislation on Dec 27 evening that offers government spending and $900 billion in pandemic-related stimulus.
Democratic and Republican leaders lately clinched an agreement on a new coronavirus relief deal.
Wall Street has been super upbeat in recent sessions on vaccine hopes. Value has been pretty cheap versus momentum and growth.
As banks seek to borrow money at short-term rates and lend at long-term rates, a steepening yield curve will earn more on lending and pay less on deposits, thereby leading to a wider spread.
Renewed stimulus hopes and Fed minutes made the yield curve steeper, causing a reflation trade and gains in these ETFs.
Biden proposed corporate tax hike from 21% to 28% would drop net income by more than $7 billion per year for the nation's 10 largest banks.
The Fed's announcement has led to a steepening of the yield curve, a condition that is highly beneficial for the financial sector, especially banks.
Though the easing of regulation has brought the much-needed relief to bank stocks, the stringent stance on banks' shareholder payouts in its latest round of stress testing is expected to be a drag.
Bank ETFs are back on track having gained at least 8% in a week.
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We have highlighted ETFs from the best and worst zones of last week that could continue the same way this week as well if fundamentals remain the same.
Trump plans to offer fiscal stimulus to counter coronavirus-related economic fallout. As the Wall Street rallied on the hopes, these ETFs and stocks gained massively.
The banking corner of the broader financial segment has been on a roll buoyed by stronger-than-expected earnings, bargain hunting and the steepening of the yield curve.
