Financial Shares Fall as Treasury Yields Slip -- Financials Roundup

Shares of banks and other lenders and money managers were lower as Treasury yields slipped.

A combination of tepid economic data, the Federal Reserve's message that it won't quickly withdraw stimulus to ward off inflation, and strong demand for bonds from investors overseas have been dragging yields down, analysts say.

The European Central Bank upgraded its economic outlook for the eurozone but said it would keep its aggressive monetary stimulus in place, signaling a possible divergence with the Federal Reserve, which could begin discussing an eventual wind-down of its pandemic-driven easy-money policies next week. At a news conference, ECB President Christine Lagarde said she expects a robust bounceback in economic activity across the continent as the pace of Covid-19 vaccinations picks up and stores and restaurants reopen.

In corporate news, anti-money-laundering charges against MoneyGram International were dismissed after prosecutors said the money-transfer company had complied with the terms of a long-running settlement agreement.

 Write to Amy Pessetto at [e-mail] 

(END) Dow Jones Newswires

06-10-21 1726ET