Gina joins the CNBC Trading team nation, by phone from London, to discuss the small caps.

The Russell 2000 has bounced 56% since the March bottom, outpacing the S&P 500′s 46% run over the same stretch.

Todd Gordon, managing director of Ascent Wealth Partners, says two groups have contributed the most to the small-cap rally. The first, financials as measured by the PSCF small cap financials ETF, has surged nearly 16% just this month.

“It’s been outperforming the Russell only recently … most likely in response to U.S. Treasury yields moving up,” Gordon said Tuesday on CNBC’s “Trading Nation.” Higher yields benefit banks’ profitability, often giving their stock prices a boost as well.

Story by Keris Alison Lahiff @KerisAlison