Regional bank stocks, as measured by the KRE ETF, gained over 2% as investor sentiment shifted to the positive implications of a rising interest rate environment. While higher long-term yields can negatively impact the value of banks' existing bond portfolios, the market on this day appeared to focus more on the prospect of expanding net interest margins. This move also represents a potential technical breakout for the KRE ETF, which has been consolidating near a key resistance level.