最新ニュース SPDR S&P Bank ETF (ARCA:KBE)

SPDR S&P Bank ETF

Financial Services

The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index tracks the performance of publicly traded national money centers and leading regional banks. It may invest in equity securities that are not included in the index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds.

Bancorp Inc Com

Columbia Banking System Inc Common Stock

Bankunited Inc

Axos Financial, Inc.

South State Corp

First Financial Bankshares Inc

Western Alliance Bancorp

Independent Bank Corp. (massachusetts)

Community Bank System Inc

Ameris Bancorp Common Stock Usd1.0

Equitable Holdings Inc.

Citigroup Inc.

Corebridge Financial Inc

Jpmorgan Chase & Co.

Wells Fargo & Co.

Mr Cooper Group Inc Com

Bank Of New York Mellon Corp.

Northern Trust Corp.

Bank Ozk

Rocket Companies Inc

New York Community Bancorp, Inc., Series C

Mgic Investment Corp

First Bancorp/puerto Rico

Essent Group Ltd.

Radian Group Inc

Popular Inc

First Citizens Bancshares Inc/ Common Stock USD1.0

East West Bancorp, Inc.

Prosegur Cash Sa

Nmi Holdings Inc

WIIM

ALLY

ARES

FITB

HBAN

NTRS

SCHW

SPGI

TROW

Shares of banks and financial services stocks are higher after the US and China agreed to a temporary reduction in most tariffs on each other's goods. A reduction in tariffs could alleviate macro uncertainty in the lending and deal environment.

The <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45164558/us-adds-177000-jobs-in-april-topping-forecasts-as-economy-navigates-tariff-impact">April U.S. employment report </a>brought a welcome economic balancing act. Nonfarm payrolls increased by 177,000, beating comfortably the 130,000 forecast by economists and almost doubling the 90,000 predicted by Kalshi betting markets. 
Average hourly earnings, however, slowed to 0.2% month-over-month from 0.3% in March, barely missing consensus forecasts.
The outcome? A tight labor market without overheating provides the Federal Reserve and markets a bit more room to breathe. For the financial sector in particular, an unusually favorable balance of stability and opportunity has emerged from the current conditions.
Also Read: <a href="https://www.benzinga.com/etfs/sector-etfs/25/05/45328557/targets-self-checkout-flip-flop-isnt-helping-after-a-66-value-crash-are-retail-etfs-ringing-up-t">Target&#8217;s Self-Checkout Flip-Flop Isn&#8217;t Helping After A 66% Value Crash: Are Retail ETFs Ringing Up The Real Risk?</a>
<h1 class="wp-block-heading">ETF Watch: Who Wins?</h1>
With job growth still being maintained but wage pressures dissipating, a number of <a href="https://www.benzinga.com/etfs">financial sector ETFs</a> may ride the macro tailwinds:
Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)
The heavyweight of financial ETFs, XLF follows blue-chip stocks such as JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Goldman Sachs Group Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>). Sectoral employment growth in financial activities (continued growth in April) indicates underlying strength, and subdued wage growth increases profitability and cools inflation risk, a net benefit to big banks with wide exposure.
SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>) Thie ETF provides equal-weighted exposure to large as well as regional banks. With the slower wage growth, consumer spending might be hit, forcing prices down (read: inflation). The Fed might consider continuing the pause, or even turn back on, rate increases. Regional banks could feel the boost of a rebound in loan demand and reduced funding costs.
Invesco KBW High Dividend Yield Financial ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWD#NASDAQ">KBWD</a>) This ETF has a tilt toward high-yielding financials such as REITs and business development companies. Lower inflation expectations render its dividend-rich holdings more appealing in real terms, while decelerating wage inflation contributes to supporting payout sustainability.
<h1 class="wp-block-heading">Why This Labor Market Arrangement Works For Financials</h1>
The market response isn&#8217;t all about employment numbers, it&#8217;s about the &#8220;goldilocks&#8221; combination they generate.
<ul class="wp-block-list">
<li>Reduced Inflation Expectations: Slower wage growth typically means softer consumer spending, which then lowers inflationary pressure. That&#8217;s a good thing for banks, which rely on stable inflation to inform lending decisions and determine interest rate margins.</li>
<li>More Favorable Rate Outlook: If the Fed perceives wages moderating, it might delay further rate increases, or even begin lowering them. For banks, declining interest rates can fuel a flood of new consumer debt, mortgage requests and corporate loans — the stuff of bank profits.</li>
<li>Firming Corporate Margins: Slower wage growth equals lower input costs. That&#8217;s a good thing for banks, and any financial institution with exposure to corporate bonds or equity markets, too. Higher margins lower credit risk and increase investment returns.</li>
<li>Lower Labor Costs: Yes, even the financial industry experiences wage pressure. With labor expenses stabilizing, internal margins rise, providing CFOs and asset managers with more room to breathe. </li>
</ul>
The Macro Signal: Stability Without Stagnation
April&#8217;s figures indicate a labor market that&#8217;s strong in all the right areas. Health care, transportation, and finance created jobs, while government payrolls declined as it restructures. The unemployment rate remained at 4.2%, indicating labor demand remains robust, even as the Fed&#8217;s inflation battle slows the wage engine.
For investors, it is time to re-examine where the smart money goes next. With an economy that continues to grow but inflation retrenches, financial ETFs might be quietly positioning for outperformance — particularly those well-situated to profit from increasing credit activity, more stable margins, and leaner labor expenses.
The market did not roar following the jobs report — but it did not need to. For financials, a subtle beat might reverberate louder than any rally.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/05/45297474/imtm-etf-tanks-then-soars-why-global-momentum-is-making-a-comeback">IMTM ETF Tanks, Then Soars: Why Global Momentum Is Making A Comeback</a></li>
</ul>
Photo: NicoElNino via Shutterstock.com

Sector ETFs

ETFs

KBWD

Jobs Up, Wages Down: Financial ETFs May Have Just Found Their Sweet Spot

<a href="https://www.youtube.com/watch?v=V2fIB2wx_i8" title="https://www.youtube.com/watch?v=V2fIB2wx_i8">https://www.youtube.com/watch?v=V2fIB2wx_i8</a>

Macro Economic Events

News

Economics

Treasury's Secretary Scott Bessent Says Many Bank Capital Regulations May Be 'Too Tight'

Politics

General

Live On CNBC, U.S. Treasury's Bessent Discusses Tariffs, Says 100% Expensing For Equipment, Factories, Along With Tax Certainty, Lower Energy Costs Will Accelerate U.S. Economic Growth; There Will Be Stimulus From Permanence Of 2017 Tax Cuts; The Way To Cut Deficit Smartly Is To Bring It Down By 100 Basis Points To GDP Each Year; We Think We Van Get Growth Back To 3% By This Time Next Year; We Are Putting Banking Deregulation Focus On Community Banks And Smaller Regional Banks

<a href="https://www.youtube.com/live/qhAQ_sImdOM">https://www.youtube.com/live/qhAQ_sImdOM</a>
&nbsp;

U.S. Treasury's Bessent Says Growth Of Private Credit Is A Sign That Banks Are Too Tightly Regulated

<a href="https://www.wsj.com/finance/regulation/federal-reserve-bank-ratings-review-1b66135f" title="https://www.wsj.com/finance/regulation/federal-reserve-bank-ratings-review-1b66135f">https://www.wsj.com/finance/regulation/federal-reserve-bank-ratings-review-1b66135f</a>

Federal Reserve

'Fed Reviewing Its Secret Ratings For The Nation's Biggest Banks; Most Large Banks Have Bad Ratings, Keeping Them From Doing Deals' - WSJ

CACC

DBRG

DGICB

FSEA

ITUB

LMND

LPLA

NAVI

NEWT

NYMT

PBHC

QFIN

SLQD

SOFI

TREE

UPST

WRLD

Shares of financial companies are trading higher amid overall market strength after President Trump said he will not be firing Fed Chair Powell. Additionally, Trump indicated the final tariff rate would be lower than the current one, which may lead to greater business and lending activity for financial institutions.

CNFR

LPRO

SLQT

Shares of financial companies are trading higher amid Treasury Secretary Scott Bessent's remarks about trade de-escalation with China, which may help restore investor confidence towards the sector.

Global

Fed Chair Powell Says U.S. Financial System Is Well Into The Process Of Working Out Its Problems With CRE; Private Credit Market Has Not Been Through A Real Credit Event; Fed Is Keeping A Close Eye On; We Should Proceed To Complete Basel 3 Accord

<a href="https://www.bloomberg.com/news/articles/2025-04-10/jpmorgan-bank-of-america-to-meet-with-canada-officials-after-trump-complaints" title="https://www.bloomberg.com/news/articles/2025-04-10/jpmorgan-bank-of-america-to-meet-with-canada-officials-after-trump-complaints">https://www.bloomberg.com/news/articles/2025-04-10/jpmorgan-bank-of-america-to-meet-with-canada-officials-after-trump-complaints</a>

'Canadian Officials Said To Plan Meeting With US Banks After Trump Complaints' - Bloomberg News

U.S. Bank CEOs Met With Commerce Secretary Howard Lutnick On Thursday To Discuss Trump Tariff Plan; Banking Industry Group Hosted Lutnick As Part Of Quarterly Meeting, In Which He Outlined Tariff Strategy; Bank CEOs Asked Lutnick Questions About Tariff Strategy At Financial Services Forum Meeting

U.S. Bank Regulators Announce Plans To Rescind 2023 Updated Community Reinvestment Act Rules, Reinstate Prior Regulatory Framework

U.S. Treasury's Bessent Says Banking Supervisors Should Analyze Supplementary Leverage Restrictions; Will Use FSOC To Drive Regulatory Change; Banks Have Been Weighed Down By Unduly Burdensome Regulatory Requirements, Broken Supervisory Culture

U.S. Treasury's Bessent Says Refocusing Banking Supervision Does Not Mean Consolidation Of Agencies, But Coordination Via Treasury

For the first time since the Great Recession, banks didn't park a single dollar in <a href="https://www.benzinga.com/topic/federal-reserve">the Federal Reserve</a>'s Reverse Repo Facility overnight. That's right—zero bids. 
The mother ship of the U.S. banking system, which has been the go-to safety net for surplus cash, found no takers.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="580" height="738" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04071824/Screenshot-2025-03-04-at-5.48.00-PM.png" alt="" class="wp-image-807933" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04071824/Screenshot-2025-03-04-at-5.48.00-PM.png 580w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04071824/Screenshot-2025-03-04-at-5.48.00-PM-236x300.png 236w" sizes="(max-width: 580px) 100vw, 580px" /></figure>
Source: <a href="https://www.newyorkfed.org/markets/data-hub">NewYorkFed website</a>
This isn't just an obscure balance sheet event. It's a flashing red warning light that bank liquidity is vanishing — fast.
<h2 class="wp-block-heading">Where Did All The Money Go?</h2>
After COVID stimulus flooded banks with cash, the Reverse Repo Facility ballooned to over $2 trillion in 2022-23. But as inflation eroded savings and delinquency rates climbed, that cash pile has been slowly draining. Now, we may have hit a breaking point.
Banks no longer have excess cash to lend to the Fed. More concerning? 
Interbank lending has already dried up. This suggests financial institutions could soon be forced into net borrowing mode — a signal of growing stress in the system.
<h2 class="wp-block-heading">Market Impact: Bonds, Stocks, What's Next</h2>
The bond market is reacting. Yields on Treasuries longer than two years are dropping fast, signaling investors believe rates have peaked. 
Five-Year Treasury Yield:
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="361" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070329/fredgraph-2-1024x361.png" alt="" class="wp-image-807923" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070329/fredgraph-2-1024x361.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070329/fredgraph-2-300x106.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070329/fredgraph-2-768x271.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070329/fredgraph-2.png 1320w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
10-Year Treasury Yield:
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="361" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070402/fredgraph-3-1024x361.png" alt="" class="wp-image-807924" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070402/fredgraph-3-1024x361.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070402/fredgraph-3-300x106.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070402/fredgraph-3-768x271.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04070402/fredgraph-3.png 1320w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
They're locking in returns now before the next recession resets the game.
This capital shift is also dragging down stocks. Liquidity is the lifeblood of markets, and if banks are running on fumes, risk assets will feel the squeeze.
<h2 class="wp-block-heading">Actionable Plays: Where Investors Can Look Now</h2>
For those watching from the sidelines, here are key ETFs to monitor:
<ul>
<li>For Bond Bulls: If yields keep dropping, bond prices will rise. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) and the iShares 7-10 Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IEF#NASDAQ">IEF</a>) are prime plays.</li>
<li>For Stock Protection: If liquidity crunch fears escalate, defensive sectors could shine. The Consumer Staples Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) and Utilities Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) could offer stability.</li>
<li>For Financial Risk: Bank stress is mounting. The SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>) and Financial Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) will be key indicators of how this liquidity squeeze plays out.</li>
</ul>
This liquidity drain wasn't a surprise to those paying attention &#8211; but what happens next will be. 
Keep a close eye on the Fed's next moves, because the money spigot may be running dry.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/25/03/44107516/autozone-q2-earnings-miss-estimates-revenues-grow-24">AutoZone Q2 Earnings: Miss Estimates, 2.4% Revenue Growth, Higher Inventory And More</a></li>
</ul>
Image: Shutterstock

Broad U.S. Equity ETFs

Specialty ETFs

iShares Trust Barclays 7-10 Year Treasury Bond Fund

iShares Trust Barclays 20+ Year Treasury Bond Fund

No Bidders, No Safety Net: Is Fed's Liquidity Lifeline Drying Up? Plus, ETFs To Watch

Fed's Hammack Says Discount Window Is A 'Very Helpful Tool' For Banks When Needed

Fed's Musalem Says Bank System Reserves Still Look Abundant

Fed Chair Powell Says We Don't Know What End Intention Is On CFPB; If CFPB Goes Away There Would Not Be A Federal Regulator To Examine Big Banks On Consumer Protection

Fed Chair Powell Says We Try As Hard As We Can To Make Sure Heavier Regulation Applied To Bigger Banks Slip Down To Smaller Banks; Tailoring Is A Basic Value At The Fed

Fed Chair Powell Says It Would Be Inappropriate For Fed To Pressure Banks On Lending Decisions Based On Political Considerations

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