Wednesday, February 24, 2010

Financials 02/24/10


· The financial tape has had a nice bid to it all session – the strength was pretty

broad, w/most credit-sensitive names catching a bid (regional banks were especially


· Asset managers – the group trades up ~1%+ on the day; strength is broad; EV dips

into the red though post earnings.

· CME climbs 5% and has been outperforming for most of the session today.

· Life insurance – the group trades up close to 2% today. PFG, PL, HIG, PRU, MET

all up 2-4%.

· Banks – strength across the board today. The capital market sensitive stocks (like

BoA, C, MS, etc) benefiting from the WSJ article talking about watered-down

“Volcker Rules”. Among the regional banks, CMA, BBT, FITB, KEY, MI, STI all climb


· MI/financial guarantors – the group sees some profit taking after a strong session

on Tues; MTG, PMI, RDN, ABK dip into the red.


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