Greece’s ongoing contretemps with creditors and gyrations in the bond markets have failed to get European bank investors trading, with volume in the sector the lowest in the Stoxx 600.
Even though European banks are the best performing equity sector since German bund yields started their rise in mid-April, 20-day volume as a percentage of 6-month average volume is just 73 percent. The average on the Stoxx 600 is about percent, Bloomberg data shows.
Short interest in the sector is also the lowest in Europe at an average of just 1.4 percent, according to aggregate Markit data. This compares to about 2.5 percent for the SXXP.
Personal & household, real estate and basic resources are the most active sectors according to volume data, and oil & gas and technology sectors have the highest short interest. [Bloomberg]