Why bank stocks are the ‘Achilles’ heel’ of markets as bears worry high bond yields may ‘break’ something
Bank stocks are in need of a “recovery rally” to show that higher interest rates won’t necessarily doom the U.S. economy to a recession in 2024, according to DataTrek Research. “U.S. bank stocks are the market’s Achilles’ heel just now,” said Nicholas Colas, co-founder of DataTrek, in a note emailed Thursday. “If the bears are …