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Sector Update: Financial

BY MT Newswires | TREASURY | 07/09/25 01:33 PM EDT

01:33 PM EDT, 07/09/2025 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) adding 0.2%.

The Philadelphia Housing Index was climbing 1.7%, while the Real Estate Select Sector SPDR Fund (XLRE) was easing 0.1%.

Bitcoin (BTC-USD) was increasing 0.2% to $109,178, and the yield for 10-year US Treasuries was dropping 6 basis points to 4.36%.

In economic news, mortgage applications in the US jumped last week as the 30-year fixed rate on conforming loans hit a three-month low, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, increased 9.4% on a seasonally-adjusted basis for the week ended July 4, following a 2.7% rise the week prior.

In corporate news, KKR's (KKR) KKR Capital Markets is among a group of lenders that is arranging 1.75 billion British pounds ($2.38 billion) in debt financing to back the private equity firm's planned acquisition of UK-based precision testing equipment and software maker Spectris, Bloomberg reported. KKR shares were rising 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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