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Sector Update: Financial

BY MT Newswires | TREASURY | 06/11/25 03:16 PM EDT

03:16 PM EDT, 06/11/2025 (MT Newswires) -- Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund (XLF) shedding 0.2%.

The Philadelphia Housing Index fell 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) dropped 0.5%.

Bitcoin (BTC-USD) decreased 1.2% to $108,891, and the yield for 10-year US Treasuries dropped 6.4 basis points to 4.41%.

In economic news, US and Chinese officials agreed on a framework for implementing the pact the two countries reached in Switzerland last month, CNBC reported after two days of talks in London between teams led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.

The US seasonally adjusted consumer price index rose by 0.1% in May, below expectations for a 0.2% increase in a survey compiled by Bloomberg.

In corporate news, Apollo Global Management (APO) informed prospective investment banking candidates that it will not interview or extend offers to the class of 2027 this year, a decision that follows growing criticism from banks over the increasingly early recruitment of young talent, Bloomberg reported. Apollo shares rose 1.6%.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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