Don’t Bank On It

On April 13th, a financial pundit with a wide media following made the following (loosely transcribed) proposition about US banking stocks: Banks won't rally because rates -long and short- are too low; Japan is our marker - banks there falling while their US/EZ peers rose pre-GFC and have not made any ground since; vis-à-vis their EZ peers, US bank returns have long been anomalous, ergo their out-performance won’t be repeated. We demur in the main.
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