Financials Down; 10-Year Yield Lingers Near Lows -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies declined as the yield on the 10-year Treasury neared its lowest level of the year.

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Warren Buffett reprised one of his classic maneuvers, stepping in to bail out a distressed financial institution on terms that will likely prove favorable. Buffett's Berkshire Hathaway agreed to acquire a 38% stake in Home Capital, Canada's top provider of residential mortgages to borrowers with lower credit ratings, and extend 2 billion Canadian dollars ($1.5 billion) credit to the lender. Home Capital had seen a flight of deposits in recent months after allegations of misleading investors.

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

(END) Dow Jones Newswires

June 22, 2017 17:08 ET (21:08 GMT)