bank shares rally, page-6

Sp moves are often driven by sentiment. The financial sector has strengthened in recent times as the market doesn't perceive it to be as bad as first thought.
There is still some unanswered questions in what overall economic impact will eventually play out from Covid-19 but there is considerably more optimism at the moment.
The speed of the rally is because the retail banks were sold down hard and priced closer to worse case scenarios. A reset of expectations have seen prices move back to a more mid range expectation.
It should be remembered that with the uncertainty they can also quickly reverse and I certainly wouldn't expect them to keep growing at this rate. A return to previous prices may have to wait until we are much further away from the pandemic as bad debts will play out over a bit longer time frame. Our banks however are fundamentally sound with strong capital levels.
There will always be other specific factors but that's how I see the sector sentiment............