Financials Up As Treasury Yields Slide -- Financials Roundup

Shares of banks and other financial institutions rose but not by as much as the broad market after a slide for Treasury yields.

The yield on the two-year Treasury had its biggest drop since March 2020 ahead of the Federal Reserve's policy statement Wednesday, as traders hedged themselves on the central bank's likely maneuvers.

Barclays' new chief executive, C.S. Venkatakrishnan, who replaced Jess Staley following the latter's sudden departure, is set to continue Mr. Staley's strategy of expanding the British bank's Wall Street presence.

Goldman Sachs Group named its largest-ever class of managing directors, with 643 employees taking the final step on the ladder before the coveted partnership.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

11-02-21 1736ET