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Financials Up Slightly as Treasury Yields Stay Flat -- Financials Roundup

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03/08/2018 | 11:07pm CEST

Banks, lenders and other financial companies rose, but not by as much as the broad market, as a run-up in Treasury yields stalled. The yield on the 10-year Treasury note, which had boosted the financial sector during a run up to four-year highs around 2.95%, has now stalled just under 2.9%. Strategists at one brokerage said corporations in a range of industries won't see a bit hit to share prices from rising interest rates, as long as the process is gradual. "If interest rates rise too quickly, share prices for companies of all styles and growth profiles will suffer in the near term," strategists at brokerage Goldman Sachs said in a research note. "Historically, the S&P 500 has been able to digest interest rate increases of less than 0.5 standard deviations in a month (10 basis points in today's terms). When bond yields have risen by more than 1 standard deviation in a month (20 basis-point currently) returns have typically been negative." U.K. insurer Aviva posted quarterly earnings growth and said it plans to buy back up to 500 million pounds sterling of shares.

-Rob Curran, rob.curran@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.32% 26743.5 Delayed Quote.8.19%
NASDAQ 100 -0.50% 7531.0719 Delayed Quote.17.74%
NASDAQ COMP. -0.51% 7986.9551 Delayed Quote.16.29%
S&P 500 -0.04% 2929.48 Real-time Quote.9.62%
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