Europe's banks, which enjoyed a stellar fourth-quarter that yielded
are still looking cheap and could have more room to rally
Economic data hasn't been as bad as many had feared
The euro zone is expected to stagnate rather than contract
STOXX 600 financials are expected to have had the highest earnings
responding with a flurry of upgrades to the sector as well as inflows
The STOXX banks index has climbed almost 20% so far in 2023 to five-year highs