Thursday, April 29, 2010


· Brokers – a lot of green in this group as shorts cover – MS, GS, JEF, AMTD all end up more than 1% on the day. 

· Asset managers – IVZ and BEN earnings today surprised on the upside and the stocks traded higher (IVZ up 4%). 

· Life insurance – big story of the day is AFL – the stock was higher initially but ended up falling ~5% on the day after it disclosed $1B+ exposure to some European sovereign debt.  The AFL disclosure raised worries among investors.  Other life names saw some short covering. 

· Banks – like everything else in financials, the banks see some short covering into the close.  The money centers perhaps seeing biggest gains (tracking w/the monoline brokers).  Regional banks also higher (FITB, STI outperforming). 

· Best Performing sp500 financials: AIG, STI, IVZ, CBG, AMP, FITB, SLM, GS, C

· Weakest performing sp500 financials: AFL, NDAQ, XL, TMK, PNC, MET, CME, MI

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