BHF - Financial stocks revive as Fed's taper talks flattens yield curve

Financial stocks climbed on Thursday as the yield curve flattens with Federal Reserve officials adding to chair Jerome Powell's assertion that the central bank may need to wind down its asset purchases at a faster pace than originally planned. In balancing employment and price stability goals, the Fed "might need to taper asset purchases faster than we anticipated," San Francisco Fed President Mary Daly said in a webcast discussion. Outgoing Vice Chair Randal Quarles  and Atlanta Fed President Raphael Bostic made similar comments at separate events today. The 10 year Treasury yield rises 4 basis points to 1.45% after slipping to as low as 1.41%; the 2-year Treasury yield increased 7 basis points to 0.63% vs. its day-low of 0.56%. The KBW Nasdaq Bank Index (BKX) rose 3.4% in Thursday trading, its biggest jump since Sept. 23. And the Financial Select Sector SPDR ETF (NYSEARCA:XLF) gained 2.9%, its biggest increase since March. Among

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Financial stocks revive as Fed's taper talks flattens yield curve