Charlotte, N.C.-Truist Financial Corporation (TFC) is a financial services company. The bank provides a range of banking and trust services for clients and for its digital platform. The company’s segments include Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.
U.S. Treasury bond yields have been hitting multi-year highs, and the Fed has hinted at raising the interest rates quickly and aggressively this year to tame multi-decade-high inflation. An increase in Treasury yields helps banks generate more interest income. The yield on the 10-year Treasury note inched up four basis points yesterday to 2.875%. And investors’ interest in regional bank stocks is evident in the SPDR S&P Regional Banking ETF’s (KRE) 10% gains over the past nine months.
