Worst-performing sector; concerns over private credit 'volatility laundering' and systemic stress in life insurers.

Viewed as a direct play on a steeper yield curve, which is 'great for banks' as it improves net interest margins. Stanley Druckenmiller's new long position adds to the bullish case.

Stanley Druckenmiller added to his position, and the host agrees, viewing it as a play on a potential rebound in investment banking activity (IPOs, M&A) and deregulation.

The entire banking sector, tracked by this ETF, faces systemic risk from a highly politicized environment. Potential new 'fair access' regulations could increase compliance costs and negatively impact the profitability of its holdings.