While much of Wall Street remains mesmerized by huge mergers sweeping the financial sector, notably that of Citicorp and Travelers Group, at least one analyst has the feeling of history repeating itself.

"As April blossoms in New York, a Yankees team filled with high-priced free agents begins the season, heavy favorites to win the pennant," wrote Sean J. Ryan, an analyst at Bear, Stearns & Co. in a recent report.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.