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The financial sector roared into 2019 with the Financial Select Sector SPDR ETF (XLF), the SPDR S&P Bank ETF (KBE), and the SPDR S&P Regional Banking ETF (KRE) growing by 19.3%, 17.9% and 15.5% YTD, respectively. However, various factors have helped to develop a brooding atmosphere of pessimism within the financial sector.
The recent pullback that began in May conflates the prospect of lower interest rates, an inverting yield curve and trepidation over global growth prospects as the trade war picked up pace.
Despite all this gloom, we hold our view that Financials will be