Are the banks entering a tradeable rally?

Wednesday, 20 June 2018

The bear market in the banks is well and truly intact:

But one would be remiss to not note the fantastic strength that they have shown over the past few days as global market shook around them. What gives?

First, the banks were oversold and ripe for a bounce.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.