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Utility Stocks Slipped, Treasury Yields Raced to a Record High

Utility Stocks Slipped, Treasury Yields Raced to a Record High

US utility stocks slipped 0.8% on May 15 after ten-year Treasury yields peaked at 3.1%—a seven-year high. Broader markets also corrected 0.7% during the day. A strong increase in US retail sales in April highlighted more economic growth in the country.