Financial sub-sectors are attractive over long term

Financials remain reliant on a stock market recovery in order to outperform but are still attractive in terms of longer-term demographics. Matthew Czepliewicz, an analyst at Credit Suisse First Boston, says the sector's hopes of a bounce back is too reliant on stock market performance for his liking in the near term. His concerns about deteriorating corporate credit quality and margin pressures have led to Credit Suisse First Boston lowering its general exposure to the sector. Besides recent high-profile casualties of the economic slowdown, such as Enron and Marconi, Czepliewicz sa...