. While this may seem counterintuitive considering our belief that we are in the latter stages of the economic cycle, there are multiple signals aligning behind this call.and the regional banking crisis of a year ago, this part of the stock market has consistently ranked among the top of our list since August — outperforming the S&P 500 by four percentage points over this time.
For one, this part of the market has shown to be among the better-performing sectors. To state the obvious, owning financialsis not recommended given the highly cyclical nature of these businesses, but up until the economy tips over, this group is a historically top performer. With theFinancials is a diverse bunch, however. A late-cycle economic backdrop poses natural questions about owning the U.S. banks.
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