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Investors Pour Into a Regional Banking ETF Ahead of Big Tax Vote

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Powell Says He Supports a Rewrite of Volcker Rule

With Congress getting closer to passing a tax overhaul package and the Federal Reserve talking about easing regulation, a regional banking exchange-traded fund is getting a lot of love from investors.

The SPDR S&P Regional Banking ETF, ticker KRE, took in $290 million on Nov. 29, its largest daily inflow since 2008. That added to the almost $270 million the fund received the day before, as investors line up bets that regional banks will benefit from tax reform and deregulation. The ETF has gained about 7 percent this week.