Any meaningful increase in interest rates is not a positive for the financials. It is just wishful thinking that these financials are going to do well when the Federal Reserve raises interest rates.
Stocks: J.P. Morgan (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC)
Exchange Traded Fund: Select Sector Financial Select Sector SPDR ETF (XLF)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
May 19, 2016
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