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The XLF SPDR includes a wide array of diversified financial service firms with business lines ranging from investment management to commercial and investment banking and also insurance companies. Among the companies included in the SPDR are Citigroup, Bank of America, American International Group, Goldman Sachs, Fannie Mae. You can find a detailed list here.
Jul 02 16:31 pm
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All Comments by Oliver Schwindler »Week in Review: Financials in Downtrend [View article]
In my opinion the resent sell off is mainly due to the current problems in the mortgage sector, especially the mortgage backed securities (for example see the near collapse of the Bear Stearn's hedge fund due to mortgage losses). I think market participants are currently demanding a higher risk premium for financial stocks because of the uncertainties in regard to a possible "mortgage implosion" and it's effect on the financial sector.