The fund is sitting just above its 200-day moving average as bank stocks lag the overall market.
“While investor expectations have been scaled back since first-quarter earnings, the slow economic recovery will likely keep valuations in check at least over the near-term,” said Sterne Agee analysts. “Moreover, we believe that the legacy mortgage issues and investor sensitivity to persistent headline risk will continue to weigh.” [Citigroup, Mortgage Woes Drag Down Financial ETFs]
SPDR KBW Bank ETF
