KBW downgrades bank sector on poor economic outlook, says other analysts will follow

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A trader works at the New York Stock Exchange in New York, the United States, Dec. 4, 2018. 

What a difference a year makes.

Last December, investors piled into bank stocks after the Trump administration’s corporate tax cuts added billions of dollars to earnings estimates for 2018. Rising interest rates, low loan losses and easing regulations were other reasons the sector was supposed to outperform this year.

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