Banks, lenders and other financial companies declined as the yield on the 30-year Treasury bond hit its lowest level this year. The decline in oil futures was interpreted as alleviating pressure on the Federal Reserve, whose rate policy is designed, in part, to combat inflation. Still, the dollar rose to a three-week high, indicating that some forex traders anticipate more rate hikes this year. Jefferies Group reported an increase in quarterly revenue and profit as its investment-banking business benefited from an increase in new debt and equity issuances. British prosecutors charged the former chief executive of Barclays PLC with fraud and illegal payments, the most prominent and most senior banker to be charged with crimes relating to the global financial crisis. John Varley, Barclays' chief from 2004 to 2011 was charged Tuesday alongside three other former Barclays executives and the bank itself over dealings with Qatari investors during an emergency "cash call," an infusion that rescued Barclays at the peak of the financial crisis. Based on readings of the Federal Reserve's statements on the subject, economists at brokerage Nomura Securities expect the central bank to announce a formal plan to sell bonds on its balance sheet in September, and to commence sales in October.
-Rob Curran, email@example.com
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(END) Dow Jones Newswires
June 20, 2017 16:25 ET (20:25 GMT)