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Sector Update: Financial

BY MT Newswires | TREASURY | 06/13/25 03:28 PM EDT

03:28 PM EDT, 06/13/2025 (MT Newswires) -- Financial stocks fell in late Friday afternoon trading, with the NYSE Financial Index declining 1.8% and the Financial Select Sector SPDR Fund (XLF) dropping 2.1%.

The Philadelphia Housing Index lost 2.8%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 1.3%.

Bitcoin (BTC-USD) eased 0.5% to $105,277, and the yield for 10-year US Treasuries rose 7 basis points to 4.42%.

In economic news, oil prices jumped on Friday. Iran fired ballistic missiles towards Israel in retaliation for an earlier attack that targeted its nuclear and ballistic facilities, according to multiple media reports.

The University of Michigan's preliminary consumer sentiment index rose to 60.5 in June from 52.2 in May, compared with expectations for a rise to 53.6 in a Bloomberg survey.

In corporate news, KKR (KKR) submitted a preliminary cash offer to buy all shares of UK-based Spectris on June 5, but the board rejected the proposal, Spectris said in a statement Friday. KKR shares were down 3.1%.

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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