Bank shares are the more notable index losers in early trading today, which continued for the third consecutive day.
This may be have been sparked by the pushback of expectations on the Fed interest rate hike from Jun to Sep this year, which led to the recent sharp drop in SIBOR.
Further, post 1Q15 the street remains relatively neutral on the banking sector given the lack of catalysts, unattractive valuations, uncertainty over asset quality, contracting reported ROEs and near term capital preservation.
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