Several financial stocks rose in the afternoon session as Treasury yields fell and investors shifted into government bonds. According to CNBC, the 10-year yield dropped more than 9 basis points to 5.093%, a move tied to investors leaving technology shares. Wholesale prices rose 6.3% in September from a year earlier, the biggest gain since 2022 and above the 5.5% Dow Jones estimate. PennyMac Financial Services (PFSI) jumped 6.7%, Coastal Financial (CCB) 4.1%, Ladder Capital (LADR) 3.2% and Ellington Financial (EFC) 2.8%. PFSI is down 53.3% year to date and trades at $61.39 per share, well below its 52-week high of $159.46.
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