Financials gain as the spread between the 2-year and 10-year Treasury yields widens to 34 basis points from 24 bps five days ago.
10-year Treasury fell, boosting yield about 6 basis points to almost 2.96%, while the 2-year's decline improved its yield by almost 3 basis points to 2.62%.
S&P Financial Sector Index gains 1.4% in early afternoon trading to 463.81; the index has risen 4.2% in the past month, but about flat year-to-date.
Previously: Dollar index slips as Trump keeps up criticism on Fed's interest rate hikes (July 20)
Now read: Capital Securities: Redeemed Issues »
Subscribe for full text news in your inbox