Financials Higher With Treasury Rates -- Financials Roundup
Banks, lenders and other financial companies rose alongside Treasury yields amid hope that the outlook for interest rates, closely tied with bank profitability, was improving.
In recent weeks, Treasury yields have declined even as expectations for them have risen, said Keith Parker, chief equity strategist for the U.S. unit of Swiss bank UBS, in a note to clients.
Shares of Goldman Sachs Group rose after The Wall Street Journal reported that it was looking to ramp up its commercial-banking business.
The Federal Reserve Bank of New York said Tuesday that John Williams, who has led the San Francisco Fed since 2011, will become its next leader, assuming one of the top leadership positions at the U.S. central bank.
Rob Curran, [email protected]