Magazine : Archives : 3rd Quarter 2013
Analyst Forum
Market Intelligence Investors have been kind to stocks recently, and especially kind to bank stocks. Despite tapering off a bit at the end of the second quarter, the Keefe, Bruyette & Woods Bank Stock Index (BKX) still climbed nearly 12 percent during the second quarter. The S&P 500, by way of comparison, went up just 3.7 percent. Why? Speculation about rising interest rates benefits bank stocks while it might not benefit other industries, says Jim Sinegal, the director of financial services research at independent research firm Morningstar Inc. Banks may need higher interest rates, as net interest margins are getting...
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