Via Reuters columnist John Kemp, here’s a dose of chart porn.
The charts below show the performance of banking equities (via indices) year to date. Chart one renders the performance in local currency terms, and chart two in common currency. Click on the charts for the full-sized versions:
Kemp highlights the following points:
(1) Movements in bank equity valuations have been highly correlated across all three regions (US, UK and Europe) since the start of the year…the high correlation is readily apparent from the charts.
(2) Banking equity indices in both the United States and Europe/UK have roughly doubled in both common currency and local currency terms since the nadir in early March.
But before you get too excited, here’s a longer term perspective:
Related links:
1000 Footsie points (almost) – FT Alphaville
Short and unstressed – FT Alphaville
The Great Debate – John Kemp’s Reuters blog