Power Producers Extend Canada Loss Streak as Bond Yields Pop
- Texas power problems add to pain for S&P/TSX Utilities Index
- 10-year U.S. and Canada yields hit highest level in a year
Canada’s utility stocks have fallen for 12 straight sessions, their longest losing streak since July of 2017, with the S&P/TSX Utilities Index at its lowest level since late December.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Some of 2020’s top performing stocks in Canada have lost some luster as bond yields grind higher and recent power woes in Texas add to the drag.
Canada’s utility stocks have fallen for 13 straight sessions, their longest losing streak on record. Rising yields on bonds reduce the attractiveness of utilities as a safe-haven for dividend-oriented investors.