Shares of banks and other financial institutions rose as traders hedged their bets on the outlook for interest rates ahead of inflation data.
The recent decision by the Bank of Japan to raise interest rates finally ended an unprecedented era of negative interest rates in much of the world that began during the deflationary panic of the great financial crisis in 2008-09, said one strategist.
"It wasn't until the global pandemic that significant pricing pressures developed, forcing central bankers to 'think about thinking about' raising interest rates," said John Lynch, chief investment officer at financial advisory Comerica Wealth Management.
Visa, Mastercard and the largest U.S. credit-card issuing banks have agreed to a settlement with merchants that have been suing them for nearly two decades over the fees they charge for swiping credit cards.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-26-24 1744ET
