Sector Monday: All cheap bank stocks aren’t bargains

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No relief and no euro rally so far today

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China raises bank reserve requirements again–interest rate increases here we come!

Today, November 19, the People’s Bank of China announced that banks would have to increase the money they keep as reserves against loans by another 0.5 percentage points. The central bank raised reserve requirements just two weeks ago. The increase raises the odds that the People’s Bank will raise benchmark interest rates by the end of 2010—but probably delays the move into December