Utilities Down As Treasury Yields Rebound -- Utilities Roundup

Shares of power producers declined as Treasury yields rebounded.

The SPDR Select Utilities exchange-traded fund, which tracks the utilities industry group of the Standard & Poor's 500, has risen about 10% in the last month, far surpassing the returns of the broad market. That was partly predicated on an unexpected reversal in Treasury yields in recent weeks and a rotation out of cyclical sectors due to risk aversion.

Yields are now rebounding and risk appetite returning.

President Biden is expected this week to call for cutting U.S. greenhouse-gas emissions roughly in half by 2030, The Wall Street Journal reported.

New York City Mayor Bill de Blasio is calling for moves toward geothermal utility service to help "accelerate decarbonization with a focus on environmental justice impacts."

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

04-21-21 1640ET