Utilities Up as Treasury Yields Tumble -- Utilities Roundup

Shares of power producers rose sharply as Treasury yields fell in the wake of muted inflation data.

Yields on the two- and 10-year Treasurys fell to their lowest level since March, making the dividend-oriented utilities sector more attractive to fixed-income investors.

The SPDR Select Sector Utilities exchange-traded fund, which tracks the utilities industry group of the Standard & Poor's 500, rose by almost 2% in the same session that the technology industry group fell by 2.5%. Such extreme divergences are exceedingly rare, and could reflect a hedge fund or quantitative trader running into difficulty, said Lorenzo Di Mattia, manager of hedge fund Sibilla Global Fund.

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(END) Dow Jones Newswires

07-11-24 1759ET