Financial Stocks Climb After Fed Policy Statement - Financials Roundup

Banks, lenders and other financial companies rose after the Federal Reserve's policy statement was slightly more hawkish than anticipated. The Fed said it would start unwinding its portfolio of bonds in October and hinted it could raise rates again in December. Both actions could push up benchmark Treasury yields and, indirectly, boost bank profits. Money manager Guggenheim Partners' board sent employees a memo indicating that Chief Executive Mark Walter has the full support of "each and every one of its members." The memo followed reports in The Wall Street Journal about internal unrest and questions from securities regulators.

-Rob Curran,

(END) Dow Jones Newswires

September 20, 2017 16:41 ET (20:41 GMT)