Financial stocks in the U.S. are due for a “renaissance” after a tough decade, according to Brad Sorensen, managing director of market and sector analysis at the Schwab Center for Financial Research. Higher bond yields and an easing of federal bank regulations are working in their favor, he wrote in a blog post Thursday. The ratio between the S&P 500 Financials Index and the S&P 500 set a seven-year high on Feb. 21 and closed 1.6 percent from that peak on Friday.
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