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Financial stocks have outperformed the broader market so far in 2013, and the sectors viewed as benefiting from higher interest rates -- such as life insurance, capital markets, small-/mid-cap banks -- have been the best performers, a Keefe Bruyette & Woods Inc. analyst wrote in an Aug. 18 report.
Frederick Cannon said the financial subsectors that have fared the best with reduced betas in 2013 are universal banks, large-regional banks, and small-/mid-cap banks. He also noted an improvement in this year's bank betas compared...