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Regional Banks Reverse Early Losses

EQUITIES

S&P 500 e-minis nudge away from session lows to last print +0.2%, with a pre-market bounce in regional bank names helping, as the bulk of the early pre-market losses in that sector are more than reversed. Ranges in the 3-major e-mini futures remain narrow and we haven’t seen a meaningful headline driver for the turnaround in regional bank stocks. We also suggest that it won’t take much to move those names around in today’s pre-market, given the proximity to FOMC and the well-documented headwinds that the sector has faced in recent weeks. The SPDR S&P Regional Banking ETF (KRE) is showing +0.1% pre-market,

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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