Financials outperform by a mile as Fed bails

The Fed fired another bazooka blast this morning. Whether or not moves such as buying junk bonds, bolstering the PPP, launching a Main Street lending program, and directly lending to municipalities will do anything to boost a locked-down economy is up for debate.
These actions combined with previous moves, however, would seemingly take the idea of a credit collapse off the table. Creditors of all sorts - banks ( $Spdr Series Trust S&P Regional Bkg Etf (KRE.US)$ +5.5%), equity REITs ( $iShares US Real Estate ETF (IYR.US)$ +6.1%), mortgage REITs ( $iShares FTSE NAREIT Mortgage PLUS Capped Index Fund (REM.US)$ +16.8%), BDCs ( $Ubs Ag Jersey (BDCS.US)$ +8.7%) are in major rally mode. The Financial SPDR's ( $Financial Select Sector SPDR Fund (XLF.US)$ +5.1%) gain is more than double that of the S&P 500.
Some players: Bank of America ( $Bank of America (BAC.US)$ +5.1%), Citigroup ( $Citigroup (C.US)$ +9.8%), New York Community ( $New York Community Bancorp (NYCB.US)$ +4.7%), KeyCorp ( $KeyCorp (KEY.US)$ +6.1%), Discover ( $Discover Financial Services (DFS.US)$ +9.8%), Synchrony ( $Synchrony Financial (SYF.US)$ +10.3%), Lincoln Financial ( $Lincoln National (LNC.US)$ +11.3%), Main Street Capital ( $Main Street Capital (MAIN.US)$ +17.0%), New Rez ( $New Residential Investment (NRZ.US)$ +22.0%), Armour ( $ARMOUR Residential REIT Inc (ARR.US)$ +14.9%), Realty Income ( $Realty Income (O.US)$ +11.2%), Ventas ( $Ventas Inc (VTR.US)$ +16.1%), Tanger Factory ( $Tanger (SKT.US)$ +23.3%).