Global Banks ETF

Betashares Global Banks is under Algo Engine buy conditions and is a current holding in our ETF model portfolio.

We recently added to the position at $5.85 and the ETF is now trading at $6.25.

Global sector rotation is occurring and money is switching from momentum to value. This could be a repositioning ahead of this week’s ECB meeting and next month’s anticipated Fed Reserve rate cut.

The yield on the global bank ETF is  1.3%.  We don’t consider this a core holding and will, therefore, look to take profit on the trade.