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"I think you're going to see a consolidation of the banking system," Rick Rieder, BlackRock CIO of global fixed income, while commenting on the plunge in New York Community Bancorp shares during an interview on Bloomberg Television.
Regional banking shares in the United States experienced a significant decline for the second consecutive day Thursday (Feb. 1). The sell-off was triggered by New York Community Bancorp's (NYCB) report, released Wednesday (Jan. 31), on the challenges it faced in its commercial real estate portfolio, which has renewed fears among investors and analysts, CNBC reported Thursday.
Mike Wilson, Morgan Stanley's chief US equity strategist and chief investment officer, says concerns about the regional banking system are weighing on credit growth. “Idiosyncratic risks are being priced,” said Wilson.
Cullen Roche discusses how the Fed leaves rates unchanged. Powell notes that the economy has made progress to our dual mandate goal.
Though the Bank Term Funding Program (BTFB) is ending, there are five reasons to believe the worst is over for regional banking stocks. Look for them to be much higher 12 months from now.
The article evaluates the SPDR S&P Regional Banking ETF as an investment option at its current market price. Regional banks had a volatile year in 2023 and finished the year with a strong Q4. I am not buying the recent bullishness and see big headwinds clouding the investment case. I have been cautious on this theme and saw limited potential for KRE, which has been proven right in hindsight. This outlook is still my base case for the year ahead.
If you're interested in broad exposure to the Financials - Regional Banks segment of the equity market, look no further than the SPDR S&P Regional Banking ETF (KRE), a passively managed exchange traded fund launched on 06/19/2006.
CNBC's Leslie Picker and Gerard Cassidy, RBC Capital Markets Head of U.S. Bank Equity Strategy, join 'Closing Bell Overtime' to talk the recent slate of bank earnings and what they tell us about the sector.
A smart beta exchange traded fund, the SPDR S&P Regional Banking ETF (KRE) debuted on 06/19/2006, and offers broad exposure to the Financials ETFs category of the market.