The highly-anticipated first rate hike of the Federal Reserve’s new tightening cycle finally came this month. Now that the Fed finally pulled the trigger, traders are looking for the best way to trade rising rates.

In a new report, the Buckingham Research Group analyst James Mitchell discusses whether or not the rate hike is a buy or a sell signal and which stocks will be impacted.

Clear Positive

According to Mitchell, the rate hike is a “clear positive” for rate-sensitive stocks. He believes that material benefits of higher rates are not yet priced into many money center bank stocks, implying that upward 2016 EPS revisions could soon be on the way.

Buying Opportunity

Mitchell points out…

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