Monday, May 25, 2020

How low can U.S. banks go versus tech?

Favoring U.S. bank stocks over the shares of technology companies “just does not make sense” based on relative performance, according to David Keller, chief strategist at Sierra Alpha Research LLC. Keller drew the conclusion Thursday in a Twitter post that cited the ratio between the Financial Select Sector SPDR exchange-traded fund and its technology counterpart. The ratio fell as much as 17% after setting a record low on March 12, according to data compiled by Bloomberg. The previous low was recorded in March 2000, about 15 months after the ETFs began trading.

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