Financials Climb With 10-Year Yield -- Financials Roundup

Shares of banks and other lenders and money managers rallied as the yield on the 10-year Treasury note continued to rise above 1%.

The 10-year Treasury note yield rose 2.9 basis points to 1.07%, its highest since March 19, as investors bet President elect Joe Biden would restore stability to the U.S. after a mob invasion of the Capitol building dealt a blow to the strength of U.S. democracy.

Lending startup SoFi is going public through a combination with the special-purpose acquisition company Social Capital Hedosophia Holdings Corp. V, in a deal that values the company at $8.65 billion as the company's expansion from its roots as a student-loan provider continues.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

01-07-21 1725ET