There will be a “surprising rebound” in the U.S. economy in the second half of 2009, said Larry Kantor, head of research at Barclays Capital.
“Most of our clients have missed this rally,” Kantor told CNBC. “[But] there’s plenty of scope for some more, as long as if the economic data goes from mixed—which is what we have right now—to decisively positive.”
Kantor said the direction of the economy will also determine the strength of the financial markets.
“If the economy gets better, these banks are going to be ok. If the economy is not getting better, they’re in trouble,” he said.
No immediate information was available for Kantor or his firm.
Where are Financial Stocks Today?
Bank of America