XLF
Financial Select Sector SPDR ETFNYSEARCA
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  • Yesterday, 11:51 AM
    • The financial sector is taking a breather from its staggering post-election run, with a post-jobs report dip in rates a good enough excuse for satiated bulls to cash in some chips.
    • XLF -1%, KBE -0.7%, KRE -0.7%.
    • Individual issues: Bank of America (BAC -1.8%), Morgan Stanley (MS -1.2%), Citigroup (C -1.9%), M&T (MTB -1.1%), Flagstar (FBC -1.7%), Fifth Third (FITB -1.6%), PNC Financial (PNC -1.4%), Prudential (PRU -1.1%), Lincoln National (LNC -1.9%), Schwab (SCHW -2.1%), State Street (STT -1.8%)
    • No longer part of the financial sector as far as the GICS classification, REITs are enjoying the respite in rates. IYR +1.6%, VNQ +1.6%
    • Realty Income (O +4.1%), Vereit (VER +3%), Omega Healthcare (OHI +3.2%), Welltower (HCN +3.5%), HCP (HCP +2.7%), Universal Health (UHT +4.4%), W.P. Carey (WPC +2%), Lexington Realty (LXP +2.5%), Essex Property (ESS +1.2%), Aimco (AIV +1.5%), General Growth (GGP +2.6%), Brixmor (BRX +1.6%), Federal Realty (FRT +1.8%), Kimco (KIM +1.2%), Public Storage (PSA +1.4%), Life Storage (LSI +1.4%), Boston Properties (BXP +1.2%), Stag Industrial (STAG +2.4%).
    | Yesterday, 11:51 AM | 13 Comments
  • Thu, Dec. 1, 12:22 PM
    • The 10-year Treasury yield is up another seven basis points to 2.46%, and bank investors continue to wrap their arms around the idea that real regulatory loosening is on the way. The XLF is higher by 1.7% vs. the S&P 500 being flat. KBE +2.15%, KRE +2%.
    • Bank of America (BAC +3%), Citigroup (C +1.7%), JPMorgan (JPM +2.2%), MetLife (MET +2.2%), Voya Financial (VOYA +3.3%), Northern Trust (NTRS +3.5%).
    • Oil is now ahead 4.6% to $51.72, helping the XLE to another 2.1% advance.
    • Tech (QQQ -1.4%) continues to struggle. Its decline today puts it lower by 1.1% since the election vs. the S&P's 2.8% advance, a 10% gain for the XLE, and a 14.5% move for the XLF.
    | Thu, Dec. 1, 12:22 PM | 13 Comments
  • Wed, Nov. 30, 11:45 AM
    • While the pick of ex-Goldmanite and Hollywood player Steven Mnuchin for Treasury Secretary can hardly be called "draining the swamp," Pantheon's Ian Shepherdson says it should make Wall Street happy.
    • In his first public comments after being selected, Mnuchin promised to "kill" swaths of Dodd-Frank.
    • Also making Wall Street (and other bankers/insurers/brokers) happy today is another big move higher in interest rates, with the 10-year Treasury yield up 10 basis points to 2.394%.
    • The S&P 500 is just marginally higher, but the KBE is ahead 1.9%, and the KRE 2%. XLF +1.35%
    • Bank of America (BAC +3.4%), Citigroup (C +1.9%), JPMorgan (JPM +1.5%), Wells Fargo (WFC +1.8%), Morgan Stanley (MS +2.1%), Goldman Sachs (GS +3.9%), U.S. Bancorp (USB +1%), PNC Financial (PNC +1.4%), KeyCorp (KEY +2.2%), Fifth Third (FITB +2.5%), Regions Financial (RF +2.9%), BB&T (BBT +2.4%), SunTrust (STI +2%)
    • MetLife (MET +2%), AIG (AIG +0.8%), Lincoln National (LNC +1.7%), Prudential (PRU +1.1%), Hartford (HIG +1.3%)
    • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, IYG, FNCL, SEF, FXO, RYF, FINU, RWW, XLFS, FINZ, JHMF, FAZZ, FNCF
    | Wed, Nov. 30, 11:45 AM | 54 Comments
  • Mon, Nov. 28, 10:45 AM
    • A full 39% of the 132 banks in its coverage universe saw some insider selling between Nov. 9 and Nov. 18, says Raymond James, noting an even mix of large regional and smaller lenders.
    • Of the 51 banks with insider sales, 39 had sales exceeding $250K.
    • Source: Bloomberg
    • Banks this morning are taking a breather from their rally: KBE -0.95%, KRE -1%.
    • The XLF is down 0.7%.
    • ETFs: XLF, FAS, FAZ, KRE, UYG, VFH, KBE, IYF, BTO, IAT, IYG, FNCL, SEF, FXO, KBWB, QABA, KBWR, RYF
    | Mon, Nov. 28, 10:45 AM | 2 Comments
  • Mon, Nov. 21, 1:07 PM
    • In the first full week following the election, more than $25B flowed into U.S. equity ETFs, according to Morningstar, which ranks the weekly flows among the best ever for the products.
    • The big gainers were the Financial Sector SPDR (NYSEARCA:XLF) and the Russell 2000 ETF (NYSEARCA:IWM).
    • Fixed-income, alternative, and commodity ETFs saw net outflows.
    • Via David Schawel is this great chart showing the remarkable move into the financial sector since the Trump victory.
    | Mon, Nov. 21, 1:07 PM | 10 Comments
  • Wed, Nov. 16, 1:51 PM
    | Wed, Nov. 16, 1:51 PM | 6 Comments
  • Wed, Nov. 16, 7:56 AM
    • The Minneapolis Fed president says under his plan there would be fewer "mega-banks," community banks would thrive, and mid-sized banks would gain market share.
    • Step one would be boosting capital requirements of lenders with more than $250B of assets to 23.5%. Next, have the Treasury Secretary force banks to be no longer systemically important or face a "systemic risk charge" which could bring their total capital requirement to 38%.
    • The third step would impose a tax on the debt of shadow banks with assets over $50B. Finally, create a simpler and less burdensome regulatory regime for community banks.
    • ETFs: XLF, FAS, FAZ, KRE, UYG, VFH, KBE, IYF, BTO, IAT, IYG, FNCL, SEF, FXO, KBWB, QABA, KBWR, RYF, FINU, KRU, RWW, XLFS, PSCF, FINZ, KRS, JHMF, WDRW, DPST, FAZZ, FNCF, FTXO
    | Wed, Nov. 16, 7:56 AM | 8 Comments
  • Tue, Nov. 15, 1:17 PM
    • Following a GAO two-year study about how our central bank central plans with respect to its annual stress tests of the nation's largest banks, the Fed says it will be more open about "the qualitative assessment process (and) detailing its reasons for decisions to object to specific firms' capital plans."
    • House Financial Services Committee Chairman Jeb Hensarling: "The GAO report confirms the secrecy surrounding the stress tests makes it almost impossible to measure the effectiveness of the Fed's regulatory oversight or the integrity of the tests' findings."
    • The banks should also be pleased as maybe they can move some talent out of compliance and back to banking.
    • Dodd-Frank and D.C.'s ever-growing oversight of the banking industry, of course, could find itself in the cross-hairs of the new administration.
    • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, IYG, FNCL, SEF, FXO, RYF, FINU, RWW, XLFS, FINZ, JHMF, FAZZ, FNCF
    | Tue, Nov. 15, 1:17 PM | 4 Comments
  • Mon, Nov. 14, 11:33 AM
    • The major averages are stuck in the red, but the XLF is up 2.2% and the KBE +3% as financial sector investors mull a world of higher interest rates and lowered regulation.
    • REITs continue to fall, but thanks to this fall's sector reclassification, those names are no longer in the financial indexes.
    • Regional banks: Regions Financial (RF +6.9%), New York Community (NYCB +2.9%), KeyCorp (KEY +3.1%), PNC Financial (PNC +2.4%), Fifth Third (FITB +4%), SunTrust (STI +3%), M&T (MTB +3.1%)
    • Insurers: MetLife (MET +2.2%), Lincoln (LNC +3.2%), AIG (AIG +2.1%), Hartford (HIG +2.3%), Travelers (TRV +1.4%)
    • Online brokerage: Schwab (SCHW +3.6%), Ameritrade (AMTD +2.5%)
    • Asset management: Franklin Resources (BEN +3.2%), Och-Ziff (OZM +4.5%), Invesco (IVZ +2.2%), T. Rowe Price (TROW +2.8%), BlackRock (BLK +0.4%)
    | Mon, Nov. 14, 11:33 AM | 8 Comments
  • Mon, Nov. 14, 7:27 AM
    • Rates are flying across the globe again this morning, with the U.S. 10-year Treasury yield up 10 basis points to 2.25%.
    • Though S&P 500 futures are flat, financial names are set for another big open. Premarket: Bank of America (NYSE:BAC+1.4%, Citigroup (NYSE:C+1.1%, JPMorgan (NYSE:JPM+0.75%, Wells Fargo (NYSE:WFC+0.7%. The XLF +0.6%
    | Mon, Nov. 14, 7:27 AM | 29 Comments
  • Fri, Nov. 11, 4:59 PM
    | Fri, Nov. 11, 4:59 PM
  • Fri, Nov. 11, 2:56 PM
    • "Dodd-Frank is dead," said a distraught James Carville on election night ... maybe not so fast.
    • Sources tell the WSJ that the president-elect's team is focused on killing or easing certain individual provisions deemed the most objectionable - the FSOC's ability to designate non-banks as SIFIs, for one - but a full repeal isn't going to happen.
    • Also up for change is the section of the law giving regulators the authority to take over a failing financial firm and liquidate (instead of bailing it out).
    • The Trump team is fine with certain parts of the law like those improving the transparency of credit-rating firms, and regulating derivatives products.
    • House Financial Services Chairman Jeb Hensarling earlier this year got a Dodd-Frank overhaul bill through his committee. He's reportedly under consideration to be the next Treasury Secretary.
    • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, IYG, FNCL, SEF, FXO, RYF, FINU, RWW, XLFS, FINZ, JHMF, FAZZ, FNCF
    | Fri, Nov. 11, 2:56 PM | 5 Comments
  • Thu, Nov. 10, 10:54 AM
    • Facebook and Amazon are down 5% and Apple and Microsoft 3%, helping the Nasdaq (NASDAQ:QQQ) to a 1.35% morning decline.
    • While the Dow (NYSEARCA:DIA) is also feeling it from Apple and Microsoft, continued big post-election moves higher in healthcare (XLV +0.9%) and financials (XLF +2.2%) are helping that gauge to a 0.5% advance. The S&P 500 (NYSEARCA:SPY) is down marginally.
    | Thu, Nov. 10, 10:54 AM | 33 Comments
  • Wed, Nov. 9, 9:47 AM
    | Wed, Nov. 9, 9:47 AM | 12 Comments
  • Tue, Nov. 8, 9:38 AM
    • The major averages are down just marginally, but the banks (KBE -1.3%), (KRE -1.1%) are sporting sizable early losses as the sell-side cashes in some chips after a big run higher for the sector.
    • Valuations are full, higher interest rates have been baked in, and an uncertain election outcome are the common themes to the downgrades, which include earlier-reported cuts by Citigroup for Goldman, KeyCorp and Citizens Financial, and a downgrade to Regions Financial (RF -1.7%) by Sandler O'Neill.
    • ETFs: XLF, FAS, FAZ, KRE, UYG, VFH, KBE, IYF, BTO, IAT, IYG, FNCL, SEF, FXO, KBWB, QABA, KBWR, RYF, FINU, KRU, RWW, XLFS, FINZ, KRS, JHMF, WDRW, DPST, FAZZ, FNCF, FTXO
    | Tue, Nov. 8, 9:38 AM | 3 Comments
  • Thu, Oct. 27, 10:51 AM
    • Rates are up across the globe again today, with the 10-year U.S. Treasury yield looking like it's ready for another assault on 2% - up 7 basis points on the session to 1.865%.
    • Alongside a sharp move lower in REITs, the utility sector (XLU -0.9%) is facing a rough go of it.
    • In the green though is the banking sector - (KBE +0.2%), (KRE +0.4%) - which has been awaiting a real move higher in rates for years. A big move on the long end while short rates hold (for now) is an added boost as it widens the yield curve.
    • Bank of America (BAC +0.4%), Citigroup (C +0.4%), JPMorgan (JPM +0.4%), Wells Fargo (WFC +0.5%), PNC Financial (PNC +0.5%), Fifth Third (FITB +0.9%), U.S. Bancorp (USB +1.2%), BB& T(BBT +0.7%)
    • Other high-yield beneficiaries include: MetLife (MET +0.9%), Lincoln Financial (LNC +1.3%), Schwab (SCHW +0.4%), Voya Financial (VOYA +0.9%).
    • ETFs: XLF, FAS, FAZ, XLU, UTG, IDU, VPU, UYG, VFH, GUT, BUI, IYF, BTO, FUTY, IYG, FNCL, SEF, RYU, FXO, UPW, RYF, FXU, FINU, RWW, SDP, XLFS, FINZ, FUGAX, JHMF, FAZZ, FNCF, JHMU, UTLF
    | Thu, Oct. 27, 10:51 AM | 2 Comments
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