National Grid PLC

NG.: XLON (GBR)

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United Utilities and National Grid: Excessive Reaction to Bond Selloff

Tancrede Fulop

May 18, 2026

The Morningstar Developed Markets Europe Utilities Index declined 3.6% on May 15, underperforming the market by 2.1 percentage points. The key driver was a global selloff of government bonds that pushed yields of European government bond yields about 15 basis points higher on May 15.

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United Utilities and National Grid: Excessive Reaction to Bond Selloff

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