Financials Down With Treasury Yields Financials Roundup
06/28/2021 | 05:28pm EDT
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Required fields Shares of banks and other financial institutions fell alongside Treasury yields as investors hedged their bets on the outlook for inflation and Federal Reserve policy. The debate about whether rising inflation is temporary or permanent rages on as summer starts, said Michael Arone, chief investment strategist with the U.S. SPDR unit of State Street Global Advisors. And investors confusion regarding the future direction of interest rates and inflation produced some wild post-FOMC meeting gyrations in financial asset prices. Principal Financial Group is planning to exit most of its business of selling life-insurance and annuities to American consumers, becoming the latest household-name life insurer to get out of what once formed the core of consumer finance businesses.
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