The rise in the financials in the US yesterday up 6.7% suggests that we may have seen the end of selling in that sector. Another interesting thing to note was that the Bank of America is now yielding 6.5%...3% above the cash rate. This would suggest that a lot of negative growth is already factored into the share price and the whole sector...
At yesterdays close the Bank of America is still 25% of its highs.
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |