European Banks Are Falling Out of Favor With Equity Strategists
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If you ask stock strategists, European banks are no longer a unanimous buy.
Deutsche Bank AG on Friday lowered its recommendation on lenders to underweight, citing weaker economic momentum and falling German bond yields. The downgrade comes two weeks after a strategist at HSBC Holdings Plc said the bank has been cutting its position on European financials, predicting U.S. 10-year Treasury yields will retreat.