NEW YORK (TheStreet) - Financial stocks have gotten off to a strong start in 2012, but investors remain wary of the sector, according to a Citigroup report published Friday.
Following Citigroup's 2012 financial services conference this week, analysts at the bank noted attendance was "somewhat thinner than in recent years" and described investor sentiment as "broadly skeptical, cautiously optimistic at best."
That skepticism offers a counterpoint to a strong rally in financial stocks year to date. The Financial Select Sector SPDR (GS), a popular exchange traded fund that tracks financial stocks, is up roughly 14% so far in 2012 compared to a 6% rise in the Dow Jones Industrial Average.
Large cap banks have been among the biggest contributors to the
XLF's rise. Bank of America
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