Shares of banks and other financial institutions were flat as Treasury yields crept up.
A plunge in Treasury yields over the last two months has caused an unexpected rally in stock and bond markets worldwide, boosting the fortunes of Wall Street brokers andmoney managers and increasing demand for mortgages and other consumer loans.
Life insurer Swiss Life Holding said Patrick Frost would step down as chief executive at the group’s annual general meeting in May next year, after 10 years at the helm.
Write to Rob Curran at [email protected]
Read the full article here