The financial sector was the strongest of the S&P 500's /zigman2/quotes/210599714/realtime SPX -1.89% 11 sectors in afternoon trading Friday, buoyed by a big bounce in Treasury yields, to recover all of what it lost in the previous session. The SPDR Financial Select Sector ETF /zigman2/quotes/209660484/composite XLF -2.05% rallied 2.8%, with 62 of 65 components gaining ground, after falling 2.0% on Thursday. Among the financial ETF's (XLF) most heavily weighted components, shares of Berkshire Hathaway Inc. /zigman2/quotes/200060694/composite BRK.B -1.86% rose 2.3%, J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM -1.75% gained 3.2%, Bank of America Corp. /zigman2/quotes/200894270/composite BAC -1.81% hiked up 3.5%, Wells Fargo & Co. /zigman2/quotes/203790192/composite WFC -2.42% ran up 3.9% and Citigroup Inc. /zigman2/quotes/207741460/composite C -1.85% climbed 2.6%. The yield on the 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -2.63% bounced 6.8 basis points to 1.356%, after falling 19.2 basis points over the past four days to close Thursday at a near 5-month low. Bank profits often get a boost when Treasury yields rise, as that tends to widen the spread banks earn on longer-term assets, such as loans, that are funded by shorter-term liabilities.