Market Chatter: Wells Fargo Former Unit Allspring Mulls $4 Billion Sale

MT newswire2026/09/18 15:31

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11:31 AM EDT, 09/18/2026 (MT Newswires) -- Wells Fargo's (WFC) former asset management unit, Allspring Global Investments, is being prepared for a sale that could value the business at about $4 billion, the Financial Times reported Friday, citing people familiar with the matter. Private equity owners GTCR and Reverence Capital are in early-stage discussions, with no final decision made, the news outlet quoted the people as saying. Allspring Global Investments, GTCR, and Reverence Capital did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price: 86.31, Change: -0.58, Percent Change: -0.67

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The US Treasury will conduct auctions of two-year, five-year, and seven-year Treasury bonds next week. Currently, traders are racing to borrow bonds to short them, driving the borrowing costs for short-term Treasuries sharply higher. On Friday, the overnight repo rate for borrowing the current two-year Treasury was about 0.79%, while the rate for the five-year even dropped to as low as -0.85%. In contrast, the repo rate for regular Treasuries was around 3.88%.

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