Utilities Down As Treasury Yields Slip -- Utilities Roundup
|04/07/2021 | 05:43pm|
Shares of power producers fell, but not by as much as cyclical sectors like materials, as Treasury yields ticked down.
The yield on the 10-year Treasury note fell slightly to 1.653%, with losses moderating after minutes from the Federal Reserve's latest meeting hit the tape.
"The Fed has made it clear that they will remain patient and wait for full employment before tightening," said Jeff Buchbinder, equity strategist at brokerage LPL Financial, in a note to clients. "That will be a tougher position to maintain later this year after most of the jobs lost from the pandemic are recovered."
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