Jim Cramer: Utilities Will Get a Leg Up if Interest Rates Drop

TheStreet's Jim Cramer says there are utility names that are still undervalued despite the sector's recent run, including Dominion Resources, Duke Energy, Con Ed, and American Electric Power. Cramer says in order for the energy sector to go higher, the 10-year treasury note needs to take a run at 2.5-percent. Cramer believes this can happen because there is a shortage of high-quality interest rate bonds and compared to Portugal and Spain, the U.S. looks "cheap" at 2.6-percent.