Financials Up as Treasury Volatility Seen Subsiding -- Financials Roundup

Shares of banks and other financial institutions rose as traders bet the sector would benefit from subsiding rate volatility.

Treasury yields rose sharply for much of 2022 but gains have moderated recently.

Sam Bankman-Fried pleaded not guilty to charges he looted billions of dollars in customer deposits to his bankrupt crypto currency exchange FTX.

Tensions between crypto magnates Cameron Winklevoss and Barry Silbert erupted into an open dispute on Twitter, with Mr. Winklevoss accusing Mr. Silbert of "bad faith stall tactics" in locking up customer assets as the fallout of the FTX failure continues to reverberate.

The University of California is putting $4 billion into a Blackstone real-estate vehicle aimed at individual investors, which had been rocked by a wave of redemptions.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

01-03-23 1712ET