Shares of banks and other financial institutions rallied as volatility in global stock markets sparked by inflation concerns subsided.
Treasury yields slipped Thursday but remained near recent highs.
"Higher inflation is likely to remain in the spotlight as the post-pandemic recovery accelerates," said strategists at brokerage UBS Global Wealth Management, in a note to clients.
Some of the largest U.S. banks, including JPMorgan Chase, Wells Fargo, U.S. Bancorp, plan to start sharing data on customers' deposit accounts as part of a government-backed initiative to extend credit to people who have traditionally lacked opportunities to borrow.
Avance Investment Management, a private-equity firm formed last year by executives who worked together at Palladium Equity Partners, wants to increase the upper fundraising limit on its debut vehicle to $1 billion, according to Mark Evans, principal investment officer at the Connecticut Retirement Plans and Trust Funds.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-13-21 1710ET
