Fast-approaching environmental regulation could reshape the utilities sector.
Week ending June 8: Rising bond yields cause big drop by stocks.
Final environmental regulations give utilities near-term certainty but no comfort.
Regulated utilities could be hit hard by inflation, while diversified firms have long-term value that the market refuses to recognize.
Our top managers could look beyond pharmaceuticals for additional yield.
Despite their near-term challenges, we still see upside.
Rising interest rates have taken their toll, but as the Fed delays dialing back on stimulus, investors are poised to recapture some of their losses.
Widening investment-grade credit spreads and rising interest rates lead to losses.