European banks could break this level for the first time since financial crisis lows (via TradingNation)
, is down more than 8% this month. It broke below its December lows at the beginning of August.
"While this surely isn't a positive for global risk, I will point out that over the 10 years, the S&P 500 is still up 180% against what has been a 65% hair clip in Europe banks," added Wald. "It does reinforce our view that the U.S. should continue to outperform versus Europe and growth should continue to outperform versus value.""If you look at the fundamentals of what happened in Europe after the crisis and for the last decade versus the U.S., the U.S.
Low to negative interest rates in Europe and a flat yield curve means European bank profitability will remain under pressure and keep these stocks unattractive, says Sanchez. "That's not a great place to be operating as a bank, and Europe is slowing down, so all of those things sort of come to this picture that Europe doesn't look good," she said. "I still think that the long-term trend is that it's going to be hard for them to make money."
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