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Financials still look pretty bleak after snapping their worst losing streak on record

Rebecca Ungarino

Financial stocks were thought to be the market’s darlings at the beginning of 2018, as a marriage between the Trump administration’s deregulation efforts and an increasingly hawkish Federal Reserve should have created the sector’s picture-perfect environment. Financials badly underperformed the broader market in the first half of the year. The financials-tracking XLF has been modestly positive in recent sessions, but only after posting its longest losing streak on record — 13 days.