Financial stocks have been out of favor for much of the period since the financial crisis. In the United States, the S&P 500 Financials Index rallied just 9% between the end of 2008 and the end of 2011 even though the S&P 500 soared 50% during the same time period. (The same has been true in Europe as well.)
But the tide is starting to turn.
In 2012, the S&P 500 Financials Index was the top-performing sector in the entire market. The Bloomberg European Financials Index soared nearly 26%, compared with a 14.5% gain for the Bloomberg European 500.
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