Sectors Go Wild: S&P 500 Correlations Crumble
Financial sector makes pronounced gain as investors bet on lighter regulations under Trump administration
Among the sharpest collapses is the link between financial stocks in the S&P 500 and the broader gauge….Shares of banks, asset managers and insurance companies as a group have jumped 11% since election day as investors bet on lighter regulation for the sector under the Trump administration. The financial sector’s performance trounced other groups, such as utilities and consumer staples, each of which are down more than 3%.
I had heard that Hillary Clinton was a Wall Street shill and neolib corporate sellout beloved by all the big banks. But I guess not. The Wall Street boys sure seem to be pretty happy she lost.