Financial Shares Rise As Bond Yields Slip — Financials Roundup
Financial company shares gained as Treasury yields slipped after a mild inflation report for May had investors betting on rate cuts from the Federal Reserve starting in September.
U.S. central bank officials penciled in just one interest-rate cut for this year, indicating most are in no hurry to lower rates. The Fed also held its benchmark rate steady, in a range between 5.25% and 5.5%, a move that was widely expected.
New economic projections showed 15 of 19 officials expect the Fed to cut rates this year, with that group roughly split between one or two rate cuts. The median, or midpoint, of those projections reflected expectations of one rate cut.
Write to Patrick Sullivan at patrick.sullivan@wsj.com
(END) Dow Jones Newswires
June 12, 2024 16:24 ET (20:24 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What Does Chipotle’s Stock Split Mean for Investors?
-
5 Stocks to Buy Before the Fed Cuts Interest Rates in 2024
-
Markets Brief: Inflation Is Back In the Spotlight
-
What’s Happening In the Markets This Week
-
What a Strong Economy Now Means for the Rest of 2024
-
4 Wide-Moat Stocks to Buy for the Long Term While They’re Undervalued Today
-
Markets Brief: Four Stocks Made Up 80% of the Gains. Can It Last?
-
Is It Time to Ditch Your Money Market Fund for Longer-Term Bonds?
-
10 Undervalued Wide-Moat Stocks
-
What Is a Stock Split?
-
Investment Opportunities in US Renewable Energy
-
10 Best Value Stocks to Buy for the Long Term
-
A Wide-Moat Stock to Invest in That’s 35% Undervalued
-
Airbus: We Believe Investors May Be Overreacting to Lowered Guidance and Charge
-
10 Stocks the Best Fund Managers Have Been Selling
-
TSMC Fair Value Raised 45% on Stronger AI Demand