Financials Pressured by Falling Treasury Yields -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies fell slightly as Treasury yields ticked down.

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Investors remain on edge about the sustainability of lofty stock market valuations, particularly in light of growing geopolitical tensions.

One money manager said the most important factor for the stock market isn't political stability, but stability in the financial system. "How do you explain the divergence between U.S. political dysfunction and the unnatural calm in financial markets?" Russ Koesterich, co-portfolio manager of BlackRock's Global Allocation Fund, wrote in a note to clients. "That last one has become particularly troubling. Most volatility measures are near all-time lows while Washington appears in complete disarray. Nonetheless, investors are likely to continue to look past political dysfunction, at least as long as financial conditions remain this easy."

Ohio-based Vantiv agreed to acquire U.K. payment processor Worldpay for $10.4 billion in cash and stock, the latest in a wave of deals among payment companies.

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

(END) Dow Jones Newswires

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August 09, 2017 17:25 ET (21:25 GMT)