Utilities Up Slightly as Treasury Rates Rise -- Utilities Roundup
Shares of power-plant operators rose, but not by as much as the broad market, as Treasury yields ticked up.
Utility stocks thrived during the recent "risk-off" sessions as traders bought into bonds and "bond proxies," such as utilities, whose value often tracks that of Treasurys. The sudden return of risk appetite hurt the Treasury market and the price of utilities Tuesday.
Rob Curran, [email protected]