Thursday, August 18, 2011

Bank ETF almost back to Recession Territory

The KBE, which is the large cap bank ETF is at $18.37 today, which is extremely close to where it traded at the beginning of July '09.  In July '09 banks led a big rally in the markets fueled by whispers that the recession was finally over.  Looking back, NBER would opine months later that July of '09 was indeed the end of the recession.

As the chatter that we're back in a recession grows louder, it's fitting that banks as a group are back to where they started.

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