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Financials Up With Treasury Yields -- Financials Roundup

11/16/2020 | 05:15pm EST

Shares of banks and other lenders and money managers rose alongside Treasury yields, reflecting a boost for risk appetite from the latest signs of vaccine promise.

Federal Reserve Vice Chairman Richard Clarida said he was not worried about the recent surge in Treasury yields, which saw the yield on the 10-year note test recent highs above 0.9% Monday.

Gregg Lemkau, Goldman Sachs Group's co-head of investment banking, once considered to be in the line of succession for the top job at the firm, is leaving the Wall Street bank to run the investment firm started by technology tycoon Michael Dell.

Shares of Banco Bilbao Vizcaya Argentaria rallied after the Spanish bank struck one major deal and reportedly entered talks on another.

BBVA agreed to sell its U.S. operations to American rival PNC Financial Services for $11.6 billion. Separately, BBVA, the second largest Spanish lender by assets, said it entered talks with rival Banco de Sabadell about a potential merger.

High-end mall developer Taubman Centers agreed to accept a price cut in its takeover by Simon Property Group, in a move that will allow the companies to avoid a drawn-out legal battle.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-16-20 1714ET

Stocks mentioned in the article
ChangeLast1st jan.
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 1.27% 4.14 Delayed Quote.2.60%
BANCO DE SABADELL, S.A. 2.33% 0.3902 Delayed Quote.10.23%
DELL TECHNOLOGIES INC. 1.38% 74.26 Delayed Quote.1.32%
PNC FINANCIAL SERVICES GROUP, INC. -4.16% 154.78 Delayed Quote.3.88%
SIMON PROPERTY GROUP, INC -2.05% 93 Delayed Quote.9.05%
TAUBMAN CENTERS, INC. 0.09% 42.99 End-of-day quote.0.00%
THE GOLDMAN SACHS GROUP, INC. -2.23% 301.01 Delayed Quote.14.14%
VMWARE, INC. -0.55% 134.81 Delayed Quote.-3.89%
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