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Sector Update: Financial Stocks Mixed Tuesday Afternoon

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Financial stocks were mixed in Tuesday afternoon trading, with the NYSE Financial Index fractionally lower and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.5%.

The Philadelphia Housing Index was falling 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.3%.

Bitcoin (BTC-USD) was increasing 0.4% to $64,735, and the yield for 10-year US Treasuries was declining 1.2 basis points to 4.712%.

In economic news, the 30-year government bond yield hovered close to levels seen around the 2007 global financial crisis. The 30-year yield hovered at around 5.29% after touching 5.34% intraday, the highest since 2007. The increase in the 30-year yield to a 19-year high comes amid concerns that an imminent escalation in the Middle East sent Brent crude prices above $90 a barrel and will fan fears of inflation, according to a D.A. Davidson research note Tuesday.

In sector news, Amazon.com-backed (AMZN) Anthropic's revolving credit facility is close to surpassing its $10 billion target as the AI company prepares for its initial public offering, Bloomberg reported. Anthropic's proposed expansion of its revolver is drawing banks seeking to boost their odds for roles in the IPO, the report said. Talks are ongoing, and the company may opt to limit the size of the revolver to the target or below, the report said.

In corporate news, KKR (KKR) has offered to buy natural-gas and electricity distributor UGI (UGI) for $42.50 a share, or roughly $9 billion, The Wall Street Journal reported. KKR shares were down 1.4%.

Goldman Sachs (GS) agreed to buy commercial real estate investor LCN Capital Partners for up to $410 million, Bloomberg reported, citing Marc Nachmann, head of Goldman's wealth- and asset-management division. Goldman shares were shedding 1.6%.

Blackstone-backed (BX) QTS Realty Trust units began a high-grade bond sale to help fund the construction of a data center tied to Microsoft (MSFT), Bloomberg reported. Blackstone shares were down 0.6%.

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