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Sector Update: Financial

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Financial stocks were softer in late Monday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.2%.

The Philadelphia Housing Index was declining 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was falling 1.5%.

Bitcoin (BTC-USD) was adding 0.2% to $63,421, and the yield for 10-year US Treasuries rose 1.6 basis points to 4.552%.

In corporate news, Blue Owl Capital (OWL), Ares Management (ARES), and Golub Capital are among firms targeting a $500 billion opportunity in Mexican pension funds, Bloomberg reported. Reforms have boosted contributions to workers' accounts, while new rules allow the Mexican funds to allocate more to international private-markets managers, the report said. Blue Owl shares were down 3.6%, and Ares rose 0.8%.

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