Financial Shares Up As Treasury Rates, Housing Starts Rise -- Financials Roundup

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03/16/2017 | 09:34 pm

Banks, lenders and other financial companies rose slightly as traders bet the sector would benefit from rising interest rates and a resilient housing market.

"Unless the incoming data deteriorates or financial conditions tighten sharply [our economists] expects the next rate hike to come in June, with a third in December and four more in 2018," said analysts at brokerage Morgan Stanley, in a note to clients.

Goldman Sachs has become the largest buyer of severely delinquent home loans from mortgage giant Fannie Mae over the past year-and-a-half, acquiring nearly two-thirds of $9.6 billion in loans the agency has auctioned, The Wall Street Journal reported.

(-By Rob Curran, [email protected])

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