Banks rally again - up more than 5% for the week

|By:, SA News Editor

The worst fears of the banking sector didn't exactly materialize this week, and investors are getting back to basics - a growing economy, higher interest rates, and an administration and Congress moving forward with regulatory reform.

Banks are outperforming the broader market by a mile for a 2nd straight day - the KBE is ahead 2.65% vs. the S&P 500's 0.4% advance. The KRE is up 2.75%, and the XLF 1.6%. Both the KBE and KRE are higher by nearly 6% on the week, and back in the green for the year.

Bank of America (BAC +2.5%), JPMorgan (JPM +2.1%), Wells Fargo (WFC +2%), KeyCorp (KEY +2.3%), Fifth Third (FITB +2.5%), M&T (MTB +2.4%), SunTrust (STI +2.3%), Huntington Bancshares (HBAN +2.7%).

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