Financials Down, But Not by Much, on Rate Views -- Financials Roundup
Banks, lenders and other financial companies fell, but not by as much as the broad market, as traders bet interest rates were heading higher in the wake of Wednesday's Federal Reserve meeting minutes.
Treasurys in the U.S. and sovereign bonds in many nations lost ground as expectations for higher rates gathered steam.
"We still expect the Fed to make the decision to begin the process of shrinking its balance sheet at its September meeting and to raise short-term interest rates next at its meeting in December," said analysts at brokerage Nomura Securities, in a research note. "However, the minutes revealed a somewhat surprising lack of consensus on when the new balance sheet policy should be launched."
A consortium led by Blackstone Group agreed to buy International Market Centers, a showroom owner and operator, from Bain Capital Private Equity and Oaktree Capital Management.
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
July 06, 2017 16:32 ET (20:32 GMT)