The Banking Index is holding up quite well this week. The BKX(KBW Bank Sector Index) is heading for its best close of the week after putting in three straight higher lows. While the major indexes were taking out the previous week’s lows this morning, the BKX remained in the green.
JP Morgan is also working on a 3rd straight higher low. The weak bond action is certainly adding a spark. All in all, not a bad way for banks/financials to end an very volatile week.