Comerica Inc. , the Dallas-based bank that posted annual profits throughout the financial crisis, became the first of the largest U.S. lenders to raise its dividend, doubling the payout to 10 cents. The stock climbed.
Rising bond yields are typically indicators of stronger economic growth and higher profits for banks. That might not be the case this time, as a 30-year bull market in U.S. government debt shows signs of coming to an end.
Wells Fargo & Co. is seizing a bigger share of U.S. corporate bond sales, underwriting its highest portion of deals on record this year as the bank climbs the ranks after buying Wachovia Corp. in 2008.