(Reuters) The stock rally in financial stocks since the U.S. presidential election may slow down if the new administration fails to cut red tape for big banks, a top UBS Group AG (UBSG.S) asset management executive said on Thursday at the Reuters Global Investment Outlook Summit in New York.
The rally that has broadly driven the S&P 500 Financials Index .SPSY more than 13 percent higher since Nov. 4 is due for a “near-term” pullback, according to Dawn Fitzpatrick, global head of equities, multi-asset and the O’Connor hedge fund businesses at UBS Asset Management.
