Financial sector moves into clear downtrend
Financial stocks rallied strongly after Donald Trump’s victory in the November election for two reasons: A Trump administration would roll back at least some of the regulations enacted to restrain bank risk-taking after the Global Financial crisis, and the Federal Reserve’s schedule for three or four interest rate increases by the end of 2017 would lead to the kind of a steeper yield curve that hikes bank profits. The first of those two reasons is still in place but the second is the subject of increasing market skepticism.
