Telecoms Flat Amid Hedging on Rates -- Telecoms Roundup
Shares of telecommunications companies were flat as traders hedged their bets on the outlook for rates.
Defensive sectors such as telecoms and utilities have typically thrived when rate expectations are declining.
Treasurys bounced around after reports of weaker-than-anticipated jobs and wage growth, suggesting traders didn't believe the data changed the Federal Reserve's calculus.
Rob Curran, [email protected]