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https://www.barrons.com/articles/utility-stocks-are-hot-right-now-heres-why-51650066298
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Higher bond yields are roiling the stock market. Utility shares have benefited—and it doesn’t look like their run-up is over.
The 10-year Treasury yield has surged to 2.83% from 1.51% at the end of 2021, as the Federal Reserve raises borrowing costs to curb inflation. It’s already begun hiking interest rates and is expected to reduce its bond holdings soon—which bodes badly for riskier sectors like industrials, consumer discretionary, and banking, but helps bolster defensive sectors like utilities.
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