Shares of banks and other financial institutions rose alongside Treasury yields, in anticipation of a "Goldilocks" scenario of strong U.S. economic growth accompanied by loose monetary policy.

"A cooling housing market, chip shortages, and supply problem for employers, all support the Fed's ultra-accommodative stance a little bit longer," said Edward Moya, senior market analyst at foreign-exchange brokerage OANDA Group, in a note to clients.

Rich Lesser, the chief executive of Boston Consulting Group, will step down in the fall from his role after nearly nine years as leader of the consulting giant, and longtime executive Christoph Schweizer will take over as CEO, the firm said in a letter to partners.

Swiss bank Julius Baer Group agreed to pay about $80 million to resolve a criminal charge stemming from a U.S. investigation into bribery involving the world soccer federation FIFA.

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

(END) Dow Jones Newswires

05-27-21 1704ET