Utilities Are Slipping Even as Yields Fall. That’s Not Supposed to Happen.
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Utilities stocks have been offering negative one-day returns since trading kicked off this morning. The Utilities Select Sector SPDR exchange traded fund, at last check, was down 0.2%. The 2-year Treasury yield was down to 4.502% while the 10-year was at 4.22%, falling by its largest amount in intraday trading in a week.