Not very happy signaling from the Pigs
Neither nominal KBE…
…nor the KBE/SPY ratio are looking very good in the face of rising yields. Indeed, KBE above is in a nasty looking pattern as it stands now. The banks are normally thought to benefit from rising yields, but I think a ‘carry’ on the short end is busted. But then again, you could view the whole modern casino as busted in some way, right? IMO brought to you by our over-meddling central planners.
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