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WELLS: ".. What looked like a 'pop' last week has indeed become a rotation, driven by Trump's polling/policies. We are confident regulatory pressure has crested and u/g Banks to outperform. .. ".. we believe the group's relative P/E will rise from ~50% to ~60% of the market,…
Regional banks stocks rally thanks to Jay Powell (and maybe Trump)
Regional bank stocks rally thanks to Powell (and maybe Trump) https://t.co/dfA8m1IN9i by @DsHollers
Regional bank stocks have experienced a significant rally, with a 10% increase this week and nearly 20% over seven days. This surge is attributed to Jay Powell and possibly Trump's influence on the market. Wells Fargo analysts believe this rally is a sustained rotation, upgrading banks to outperform and predicting a rise in the group's relative P/E ratio.