Financials down as volatility shakes markets – Financials Roundup

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Shares of banks and other financial institutions fell as volatility continued to rock global markets.

A spike in Treasury yields persisted, with the 10-year T-bill yield hitting 1.779%, building on its biggest weekly gain since 2019 last week. Rising yields are generally positive for the banking industry, but such sudden shifts destabilize markets and hurt financial firms.

“The markets are entering a stricter political regime which historically has resulted in lower returns and more uncertainty in the index,” strategists at brokerage Morgan Stanley said in a statement. note to customers.

US investment firm Cerberus Capital Management sells part of its stakes in Deutsche Bank and Commerzbank, after years of disappointing stock market performance among German lenders.

The Securities and Exchange Commission is preparing to impose more transparency on large private companies, as regulators worry about the lack of oversight of private fundraising that has fueled their rise.

 

Write to Rob Curran at [email protected]

(END) Dow Jones Newswires

January 10, 2022 17:03 ET (22:03 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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