“What we’re seeing is the hope that when we get the non-performing asset figures out of the banks over the next 4 to 6 days, that they’re going to show a slowing in growth in non-performing assets,” Richard Bove, financial strategist at Rochdale Securities, told CNBC.
Bove said this would be a trigger point that sends bank stocks up very sharply. However, if the opposite happens—which he says is unlikely—then the rally will die.
“Buf if we see non-performing assets bend over—in terms of the growth rate—you’ll see this rally get more legs and continue,” he said.
http://www.cnbc.com/id/31927295
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