Financial Institutions Share Fall Amid Rising Treasury Yields

Shares of banks and other financial institutions experienced a decline, although not as significant as the general market, following a surge in Treasury yields. This was prompted by an unexpected surge in private jobs survey results, causing the two-year Treasury yield to reach its highest level since March.

Fidelity National Information Services Announces Sale of Majority Stake in Worldpay Merchant Solutions

Fidelity National Information Services has entered into an agreement to sell a majority stake in its Worldpay Merchant Solutions segment to private-equity funds managed by GTCR. This deal, valued at nearly $12 billion, values the financial-technology concern at approximately $18.5 billion. It is important to note that this valuation is less than half of the $43 billion that Worldpay was acquired for in 2019.

Market Shows Complacency, According to Experts

“The VIX right is around its all-time low,” commented Kent Engelke, chief economic strategist at brokerage Capitol Securities. Engleke also added, “The VIX says we have a lot of complacency in the market.” This observation highlights the prevailing sense of calmness and lack of volatility within the market.

Silicon Valley Bank’s Parent Company Receives Approval for Investment-Banking Business Sale

The former parent company of Silicon Valley Bank has obtained court approval for the sale of its investment-banking business. This transaction is expected to amount to approximately $100 million.

Lazard Takes Action Following Alleged Inappropriate Behavior

The Wall Street Journal reported that Lazard has dismissed a senior restructuring banker following allegations of inappropriate behavior towards employees at a party he hosted over the weekend.