Shares of banks and other lenders and money managers rallied alongside Treasury yields as reports that stimulus negotiations are set to continue buoyed risk appetite.

The yield on the 10-year Treasury note closed at its highest level since Nov. 10. The British pound sterling fell almost 1% against the dollar amid fears that negotiations with the European Union would fail to yield a "Brexit" deal for post-divorce trade.

"Four weeks from tomorrow, the U.K. leaves the transitional period and there's still no deal in place. What's more, the same old problems remain the sticking points," said Craig Erlam, senior market analyst at foreign-exchange brokerage OANDA Europe, in a note to clients.

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

(END) Dow Jones Newswires

12-02-20 1700ET