Shares of power producers rose as yield-seeking investors rotated into the sector from the Treasury market.
The yield on the 10-year Treasury note hit the lowest mark since February on Monday, spurring demand for dividend-paying sectors. Sliding Treasury yields and a hunger for dividends triggered gains in the utility sector that were among the strongest on the Standard & Poor's 500 in July, according to strategists at brokerage Bank of America Securities.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
08-03-21 1723ET
