It was a bullish end to the month, and there is zero reason to expect the m/t trend not to continue until at least the $33s, if not $40/45. The latter will clearly require US rates at least 2.50%, if not >3.00%.
For the record, I do NOT expect rates to fully 'normalise' to around 5%. There are simple 'math problems', as higher rates will eventually cause problems in terms of debt repayments, at consumer, corporate, and governmental level. However, until rates are at least 2.50%, I don't see any significant reason to be concerned.
Many in the mainstream recognise that higher rates are bullish for BAC and the broader financial sector...
|Pete Najarian of investitute.com, regularly highlighting BAC, JPM, XLF|
yours.. bullish BAC, the financials, and the main market, into/across 2018.