Financials Rise Alongside Bond Yields -- Financials Roundup
Banks, lenders and other financial companies rose alongside Treasury yields.
Yields rose in anticipation of a more hawkish Federal Reserve statement Wednesday, in light of stronger inflation data. The consumer-price index, which gauges what Americans pay for goods like lettuce and toys and services like haircuts, rose 2.8% in May from the prior year, the strongest reading in more than six years.
Blackstone Group LP is tripling the fundraising goal for the nontraded real-estate investment trust it launched last year, planning to raise an additional $10 billion, The Wall Street Journal reported.
Bank of America Merrill Lynch will pay over $15 million to settle claims that its traders lied about how much they paid to acquire mortgage bonds, allowing the bank to charge a higher price to clients buying securities. The sanction includes $10.5 million that must be returned to customers and a $5.2 million civil penalty, the Securities and Exchange Commission said. (email@example.com)