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Utilities Down as 10-Year Yield Hangs Around 5% Level — Utilities Roundup

Provided by Dow Jones

Oct 23, 2023 9:11pm

Shares of power producers fell as the yield on the 10-year Treasury note briefly broke through the psychologically significant 5% level.

"Utilities are down almost 16%," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

"With rates higher, why does an investor want to put money at risk buying utilities.

Plus they're so debt-laden, and to the extent that interest is variable, it's costing more to do business."

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

October 23, 2023 17:11 ET (21:11 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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