Again assuming our outlook on bond yields is correct it could prove a headwind for the US banking sector, although it wasn’t the case overnight with WFC rallying over 3%. The stocks almost tripled since its panic low in 2020, importantly this is currently our largest holding with a 9% weighting hence we are considering reducing into current strength.
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Buy Hold Sell: The best and worst performers of FY25
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Thursday 11th September – Dow off -220pts, SPI off -20pts
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Wednesday 10th September – Dow up +196pts, SPI down -4pts
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MM is considering taking profit on part of our WFC holding into strength
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