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Financial stocks pressured by surging Treasury yields and Q3 earnings outlook

Zacks ·

JPM JPMorgan Chase & Co
$332.99 +0.47%
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WFC +1.85%
  1. 1Surging Treasury yields led to a -0.3% decline in JPMorgan shares and a -6.2% decline in Wells Fargo shares over the past 3 months.
  2. 2The financial sector is projected to record a +3.4% increase in revenue for Q3 compared to the same period last year.
  3. 3Management suggested that trading volumes will be lower than previous periods.

So what's the key point?

Stock prices for JPMorgan and Wells Fargo fell as Treasury yields rose significantly. While financial sector revenue is expected to increase by 3.4%, trading volumes may decrease.

Source Zacks · View original ↗

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