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Banks are sitting out the big rally, and some see more downside coming

Rebecca Ungarino

The market is roaring, but bank stocks are barely making a sound. Bank stocks and the broader financial sector have posted meager gains this year, with banks gaining around 2 percent and the financials just barely positive. The 10-year Treasury note yield broke above 3 percent Friday for the first time since early August, and bank stocks were just slightly higher.