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Stress test results coming Thursday

Jun. 20, 2016 3:17 PM ETXLF, IYF, IYG, VFH, KBE, KRE, RSPF, UYG, FXO, SEF, FAS, FAZ, RWW, BTO, FINU-OLD, FINZ, FNCL, JHMF, XLFS, FAZZ, FNCFBy: Stephen Alpher, SA News Editor11 Comments
  • The deluge is set to start 30 minutes after the market closes on Thursday and will have to compete with Brexit exit polls for breathless news coverage.
  • As for the lenders, the Fed will first release the results from the annual stress tests and minute later the banks will disclose how they graded themselves. The results of the CCAR - at which banks' requests for capital returns will or won't be greenlighted - will come in one week later.
  • Investors will want to know if the Fed - feeling more comfortable with capital levels - will continue the trend of allowing gradual increases in payouts - they were at 75% of profits last year, and some are hoping for an increase to 80% this year.
  • Of course, even "A" grades on stress tests would likely more than counterbalanced by a "leave" vote coming from the U.K. If this weekend's polls are any indication, a decision to leave is looking less and less likely.
  • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, IYG, FNCL, SEF, FXO, RYF, FINU, RWW, XLFS, FINZ, JHMF, FAZZ, FNCF, KBE, KRE

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