Modest late day rally in some banks, hope for better master trust data next week. Next week some banks, including Bank of America , JP Morgan, Citi, and Capital One will release master trust data, which contains information on credit card delinquencies...there is speculation that this data will be better than expected.
For example, this morning Stifel Nicholaus sent a note to their clients saying that "we expect trends to remain encouraging as the recent drop in delinquencies work their way through...Specifically, we expect loss rates and late-stage delinquencies to drop as the benefits of falling delinquencies in prior months flow through the later buckets."
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