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Financials Up With Yield On 10-Year Treasury -- Financials Roundup

06/21/2021 | 05:34pm EDT

Shares of banks and other financial institutions rose alongside Treasury yields, as the yield on the 10-year Treasury note bounced back after last week's slide.

Two Federal Reserve officials, Robert Kaplan of the Dallas Fed and James Bullard of the St. Louis Fed both said the time for the central bank to rethink its strong support for the economy is getting closer, in a joint virtual appearance Monday.

The price of bitcoin and other cryptocurrencies slid Monday after China's central bank ordered the country's largest banks and payment processors to take a more active role in curbing cryptocurrency trading and related activities. Advocates of cryptocurrencies and "decentralized finance" argue that the design of the digital currencies make them less susceptible to the vagaries of regulations than other areas of finance, but skeptics say the recent boom in currency prices is unlikely to continue if the niche faces sustained pressure from regulators.

Deutsche Bank entered a joint venture with U.S. digital payments giant Fiserv to offer customers payments-processing services, roughly a decade after the German lender retreated from the then-controversial digital-payments business.

The asset management arm of U.S. bank JPMorgan agreed to buy Campbell Global, a Portland, Ore., firm that manages $5.3 billion worth of timberland on behalf of institutional investors, such as pensions and insurance companies. Demand for "carbon offsets" has generated demand for forest holdings among investment firms.

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

(END) Dow Jones Newswires

06-21-21 1733ET

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