Utilities Up As Treasury Yields Fall — Utilities Roundup
Shares of power producers rallied as Treasury yields fell and a rally in cyclical stocks paused.
One money manager said the dramatic reported drop in U.S. carbon emissions in 2020 would not lessen interest in “green technology” companies, makers of solar-power and other equipment that help reduce emissions.
“Even when the world gets back to ‘more normal’ with higher mobility as the vaccine roll out continues, the focus on reducing carbon emissions will persist,” said strategists at money manager UBS Global Wealth Management, in a note to clients.
“The U.S. has plenty of work to meet the target set out in the Paris Agreement for a 28% reduction in emissions by 2025 versus 2005 levels.”
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(END) Dow Jones Newswires
January 13, 2021 17:39 ET (22:39 GMT)
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Dow Jones – Utilities Up As Treasury Yields Fall — Utilities Roundup