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Sector Update: Financial Stocks Advance Wednesday Afternoon

BY MT Newswires | TREASURY | 08/20/25 01:52 PM EDT

01:52 PM EDT, 08/20/2025 (MT Newswires) -- Financial stocks were higher in Wednesday afternoon trading, with the NYSE Financial Index increasing 0.3% and the Financial Select Sector SPDR Fund (XLF) up 0.4%.

The Philadelphia Housing Index was falling 1.8%, while the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.4%.

Bitcoin (BTC-USD) was rising 0.6% to $114,146, and the yield for 10-year US Treasuries was shedding 2.1 basis points to 4.28%.

In economic news, mortgage applications in the US fell last week as the 30-year fixed rate on conforming loans ticked higher, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, dropped 1.4% on a seasonally adjusted basis for the week ended Friday, following a roughly 11% jump the week prior. Without adjustments, the index fell 2% on a weekly basis.

In corporate news, JPMorgan Chase (JPM) and Mitsubishi UFJ Financial (MUFG) are nearing a deal to underwrite a $22 billion loan to build a data center campus for Vantage Data Centers in Texas, the Financial Times reported. JPMorgan (JPM) shares added 0.6% and Mitsubishi UFJ increased 0.4%.

Aspen Insurance (AHL) is in talks to be bought by Sompo, Insurance Insider reported. Aspen shares jumped past 16%.

Citigroup (C) hired a law firm to investigate complaints that Andy Sieg, the bank's wealth-management chief, intimidates and unfairly sidelines workers, Bloomberg reported. Citi shares were shedding 0.9%.

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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