Shares of power producers fell as Treasury yields rose in the wake of inflation data. Holders of PG&E bonds, including Pacific Investment Management and activist investor Elliott Management, look set to prevail in a struggle with shareholders over how the compay will pay liabilities from previous wild-fires. The California legislature passed a bill that would establish a fund to help utilities with wild-fire liabilities. But the legislature didn't allow PG&E to issue bonds to pay for its portion of liabilities associated with the Camp Fire and other previous events, as shareholders had requested.
-Rob Curran, email@example.com