SoFi shares climb 6% to $18.66, Upstart jumps 8% to $31.58, and Affirm rises 7% to $78.55, as fintech names rebound after long-end Treasury yields fall.
The rebound in fintech stocks follows a sharp retreat in long-end Treasury yields, which tend to benefit consumer lenders and high-multiple growth names. The 10-year Treasury yield fell 5 basis points to 4.65%, and the 30-year yield declined 8 basis points to 5.2%. This move comes after the Treasury Department stated it would increase buybacks of long-dated government debt "by at least double" for securities from the 10-year to 30-year sector. No company-specific catalysts were cited for the individual stock movements.
No AI analysis yet. Tap the "AI Analysis" button above to generate one now.
Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
24H Trending
-
1
Regulatory Landscape and Exchange Policies for Virtual Currencies in Mainland China
-
2
Musk reposted a tweet stating that Starlink can stream 5 college football games simultaneously on commercial flights.
-
3
Cerebras's pre-market stock rose 6% after OpenAI CEO Altman called Cerebras a "close partner."
-
4
Bitcoin (BTC): Latest Updates and Market Analysis of Digital Gold
-
5
The Deep Integration and Development of USDC with Crypto Lending Platforms
-
6
Cryptocurrency Information Platforms and Software Download Guide: Secure Access to Industry News and Trading Tools
-
7
Ethereum: Market Impact, Technological Advancements, and Future Outlook
-
8
Multiple U.S. states will vote on wealth taxes in November, with California potentially imposing a 5% net worth tax on billionaires.
-
9
Litecoin's price has recently surged: Can ETF applications and halving expectations sustain its rally?
-
10
Decoding the Connection Mechanism of Bitcoin Private Keys, Public Keys, and Wallet Addresses
Markets Today
Recommended Reading









