Events · who it helps and who it hurts

Fed stress test results (DFAST/CCAR)

The Fed's annual test of whether big banks could survive a severe downturn.

Not on our calendar

The reads below are for when banks get easier capital requirements than expected. Expect the opposite when banks get tougher requirements.

Sectors

Financial ServicesUsually helpsThe result sets how much the biggest banks may pay out in dividends and buybacks for the year.

Basic MaterialsNo documented read

Communication ServicesNo documented read

Consumer CyclicalNo documented read

Consumer DefensiveNo documented read

EnergyNo documented read

HealthcareNo documented read

IndustrialsNo documented read

Real EstateNo documented read

TechnologyNo documented read

UtilitiesNo documented read

Where each sector’s relative strength sits this week is on the rotation board.

Banks - DiversifiedUsually helpsTheir payout budget is set directly by the result.

Capital MarketsUsually helpsTrading businesses get a capital charge from the test.