“Bank stocks have undoubtedly been one of the leaders in the latest stock market rally.
The chart below, normalized to 100 at November 15 prices (the starting point), shows how bank stocks have outperformed. The red line is the KBW Banks Index (ticker symbol: BKX) and the blue line is the S&P 500.
Bloomberg, Business Insider
After a bit of a pullback, the KBW Banks Index surged to new highs in the last few weeks of 2013.
On the back of this rally, BofA analysts Erika Penala and Mary Ann Bartels say now might be the time for those invested in the banks to sell….”
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