(Bloomberg) -- Higher bond yields across the world this year have helped lift earnings expectations for financial stocks, with double-digit growth projected for companies in both the U.S. and Europe. The optimism has helped push the MSCI World Financial Index to near its highest level since the financial crisis, while upgrades to profit estimates this month outweighed cuts by the largest margin in eight years, according to a Citigroup Inc. index.
To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net.
To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, John Viljoen, Sheldon Reback
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