Utilities Down As Traders Hedge On Rates - Utilities Roundup
Shares of power producers fell slightly, as traders hedged their bets on the outlook for interest rates.
China is limiting the scope of issues up for negotiation in the latest round of talks with the U.S. Bloomberg News reported. Should the talks falter, the odds of a rate cut from the Federal Reserve later in the month would likely increase.
That, in turn, could weigh on Treasury yields and boost demand for utility stocks.
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