Shares of banks and other financial institutions rose alongside Treasury yields ahead of the Federal Reserve meeting later this week.
The yield on the 10-year Treasury note topped 2.1% for the first time since 2019. One strategist said nerves in stock and bond markets over rate increases could soon be eased.
"The Fed will officially begin to raise interest rates this week, and often the 'anticipation' of a tactical change by the Fed is worse than 'its reality,'" said Jim Paulsen, chief investment strategist at money manager The Leuthold Group, in a note to clients.
German prosecutors said they had charged Wirecard's former chief executive, Markus Braun, and two other former senior executives, with suspected market manipulation and false representation of the company's financial accounts.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-14-22 1723ET
