|Bid||154.22 x 1000|
|Ask||154.23 x 1100|
|Day's range||153.01 - 154.34|
|52-week range||121.14 - 155.10|
|PE ratio (TTM)||N/A|
|YTD daily total return||1.72%|
|Beta (5Y monthly)||1.20|
|Expense ratio (net)||0.42%|
Though the latest steepening of the yield curve benefited bank ETFs on Sep 9, chances of volatility in the longer-term period may keep gains in bank ETFs at check.
Cheaper valuation, better earnings growth prospects, solid performance in Stress Test, dividend hike announcements and less chances of a rate cut should position financial ETFs in a good spot in 2H.
Broader Market Gained after Fed Chair Hinted at Rate CutFed signaled rate cutThe broader US stock market rebounded sharply on June 4 after Fed Chair Jerome Powell indicated a possible rate cut in the near future. In his speech yesterday at the
A slight flattening of the yield curve may hurt bank stocks' profitability, but underwriting of several unicorn IPOs should help these financial ETFs.