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Financials Down As Traders Assess Tapering Odds -- Financials Roundup

08/19/2021 | 05:20pm EDT

Shares of banks and other financial institutions fell as traders assessed the odds of a pullback in bond buying by the Federal Reserve.

There is a "low chance of a taper advance notice at Jackson Hole," said analysts at money manager UBS Global Wealth Management, in a note to clients, previewing the Aug. 26-28 Wyoming central-banker conference where policy pivots have sometimes originated in the past.

Treasury yields fell, and the yield on the 10-year Treasury note is now more than half a percentage point from its March highs.

Wall Street broker Goldman Sachs Group agreed to buy the money-management operation of Dutch insurer NN Group for about $1.87 billion, as money managers bulk up in a business with increasingly tight margins.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

08-19-21 1719ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.09% 35294.76 Delayed Quote.14.07%
NN GROUP N.V. 0.46% 45.96 Real-time Quote.29.36%
S&P 500 0.75% 4471.37 Delayed Quote.18.16%
THE GOLDMAN SACHS GROUP, INC. 3.80% 406.07 Delayed Quote.53.98%
UBS GROUP AG 0.60% 15.875 Delayed Quote.27.31%
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