Higher Treasury Yields Lift Financial Sector -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies rose alongside Treasury yields.

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Economic data such as Friday's employment report could decide how far the Federal Reserve goes towards its goal of selling down bond holdings on its balance sheet, according to one brokerage. "Whether you are reading the FOMC minutes or listening to speeches, the message is clear: the goal is to start shrinking the balance sheet this year," analysts at Bank of America Merrill Lynch Global Research wrote in a client note. "But the decision will ultimately be a function of the data and financial conditions as well as how much Fed officials are willing to stray from hikes."

-By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 01, 2017 16:29 ET (20:29 GMT)