Why ANZ, Westpac, and the rest of the big four are storming higher today

It certainly has been a positive day of trade for the banking sector.

Strong gains by the big four banks on Thursday are helping to drive the S&P/ASX 200 Index (ASX: XJO) notably higher.

What is happening?

Here’s the state of play in the banking sector this afternoon:

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is up 4.5% to $23.82.

The Commonwealth Bank of Australia (ASX: CBA) share price is up 2.5% to $84.86.

The National Australia Bank Ltd (ASX: NAB) share price is up 3% to $23.11.

The Westpac Banking Corp (ASX: WBC) share price is up 4.5% to $20.22.

Why are the banks charging higher?

Today’s gains appear to have been driven by a broker note out of Citi in the United States.

According to the AFR,…