ETF madness is on display. In spite of good earnings from banks, bank ETFs are being sold on flattening yield curve.
JPMorgan (JPM) is long from $34.14. It is trading at $107.53 as of this writing.
Citigroup (C ) is long from $33.80. It is trading at $67.02 as of this writing.
JPM and C reported earnings better than consensus but in line with whisper numbers.
As of this writing bank stocks are seeing selling because of ETF madness. Such a reaction is quite common. Professionals who bought these stocks in anticipation of good earnings over the last couple of weeks for short term trades, sold into the strength.