Posts filed under “Digital Media”
The KBW Bank Index, via Chart of the Day:
For some perspective into the all-important banking sector, today’s chart presents the current trend of the KBW Bank Index. As today’s chart illustrates, banking stocks were trading within the confines of an upward sloping trend channel from mid-2005 into early 2007. Then the impact of an already weakening real estate market began to take its toll and ultimately led to the current financial crisis. It is worth noting that the price of banking stocks have been decreasing and continue to decrease at an ever-increasing rate and today made new bear market lows.
Bespoke Investment Group notes that in less than two years, the market cap of the S&P financial sector has shrunk to $959 billion from nearly $3 trillion at its May 2007 peak. Citigroup has lost in value close to 10 times its current market cap. > Source: Parade of the Basket Cases ALAN ABELSON Barrons…Read More