Utility Sector the Bright Spot as Treasury Yields Tick Down

The utility sector has been one of the best performing sectors since the beginning of the year and a bright spot in a relatively down market, says Mark Newton, Chief Technician at Greywolf Equities. With Treasury yields being so low, investors are drawn to the steady dividend. Newton also points out that as momentum stocks trade off and fewer stocks hit new highs, investors have become fearful of the market. Newton sees this shift to less risky sectors.

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