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Actionable news in BK: BANK OF NEW YORK MELLON CORPORATION,

Financials cheer higher rates

The major averages are lower following the blowout jobs number, but the financial sector (XLF +1%) is charging ahead, enthused at what appears to finally be the near-certain prospect of higher interest rates.

Short-term interest rate futures are pricing in about a 75% chance of a rate hike next month, and the 10-year Treasury...


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