Shares of power producers rose as traders rotated into defensive sectors following inflation data.
The utilities sector burst out of the gate in 2024 as fixed-income investors shifted from the Treasury market in anticipation of falling Treasury yields.
Stronger inflation data weighed on sentiment about the utilities sector, which fares well when inflation is weakening and interest rates are falling.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-12-24 1809ET
