Utilities Down as Yields Rebound - Utilities Roundup
Dow Jones06:27
Shares of power producers fell as Treasury yields rebounded.
The yield on the 10-year Treasury had its largest gain since Sept. 28, as traders reversed bets on a moderation in inflation.
The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the S&P 500, is up about 0.6% for the year to date after Tuesday's loss. That's among the weakest returns among the 11 S&P 500 sectors, and comes despite a historic surge in revenue growth for U.S. utilities.
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