Today's Early Look, written by Financials analyst Drago Malesevic, shows the Financials team's pair trade.
Recent performance and earnings results have validated our bullish pivot on consumer finance. Regional banks (KRE) are down -2.27% in the last month, outperforming the S&P 500 at -2.69%, whereas Capital One (COF) and Discover (DFS) are up +3.93% and +3.23%, respectively, over this same period. Meanwhile, our favorite name in auto-finance, Ally Financial (ALLY), is up +1.92% in the last month.
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