XLF Continues to Grind Higher in Sympathy with 10-Year YIELD, Ahead of Today's FOMC Policy Statement

XLF continues to grind higher towards my next optimal target zone of 23.75-24.00.

So far, the high PF print is 23.65.

The most recent upleg from 21.85 has coincided with the lift of 10-year YIELD from 1.68% to 1.93%, which helps the balance sheets of the large banks (net interest income).

In that both XLF and 10-year YIELD appear to have more room on the upside, can we infer that the reaction to whatever the FOMC announces today will be more of the same investor perception: a steeper YIELD Curve, higher longer-term rates, perhaps higher inflationary expectations-- in the absence of the threat of a near-term, Fed rate hike.

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