Financials Down Amid Credit-Market Worries — Financials Roundup

Shares of banks and financial institutions declined due to credit-market concerns, with the 30-year Treasury bond yield surpassing 5% for the first time since 2007. This rise in yields raises worries about U.S. budget finances and private credit. Wall Street private-credit managers' shares remained flat to down, and investors are finding it challenging to assess valuations of private-credit funds, including a business-development company managed by Blue Owl.