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Utilities Down on Yield Fears — Utilities Roundup

Shares of power producers ​fell as momentum traders continued to flee the sector, betting bond yields will continue to work against it.

The SPDR Select Sector Utilities exchange-traded fund has dropped about 8% for the year to date, even as the broad market has risen markedly, as rising Treasury yields have presented the sector with formidable competition from the bond market.

Write to Rob Curran at [email protected]

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