Financials Up After Infrastructure Compromise -- Financials Roundup

06/24/2021 | 05:39pm

Shares of banks and other financial institutions rose sharply after President Joe Biden reached a deal with senate leaders on infrastructure bill.

Richmond Fed President Thomas Barkin said he thinks U.S. inflation pressures are temporary but the central bank needs to to be careful and watch prices closely.

"If bond traders thought inflation run out of control we would see certainly higher rates filtering into those market," said Chris Gaffney, president of world markets at TIAA Bank.

"I think that shows confidence in the Fed, it shows confidence while they are supporting the market they will be very conscious of any longer term inflation put that message in place while believe going to transitory we could be wrong."

Visa agreed to pay more than $2 billion for Tink, a Swedish startup whose digital services connect more than 3,400 banks and financial institutions in Europe.

Deutsche Bank is making changes to its anti-financial crimes and compliance teams following years of regulatory scrutiny and enforcement actions, according to a recent internal memo.

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

(END) Dow Jones Newswires

06-24-21 1738ET

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