Still Best In Breed?
I would say probably not, but many still look to guidance from this name to see the genuine health of the financial space. I would say that WFC likely deserves that honor higher by 61% so far this year as it grapples with the very round 50 number at the moment. The XLF was the best performing major S&P sector Tuesday, 2 of just 11 to CLOSE in the green. YTD is has put up a respectable 33% gain thus far, good for the third-best actor. In 2021 thus far names like BAC which is higher by 45% compared to JPM up by 25%, one can see that perhaps the name does not carry the same clout as it did in years past. Of course, the financials are a diverse space and the specialty finance arena has contributed the most this year to the group’s success. Names like KKR CG and MC look attractive at current levels. The group has had a nice run and many are thinking that rates are inevitably headed higher as the tightening process could be upon us. Let the leading stocks themselves tell you where you should allocate your hard-earned capital.