Regulated utilities getting crushed today — $EXC down 2.8%, $PEG -2.7%, $DUK -2.3%, $XEL -3%, $EIX -4.2%, $SRE -5.1%. Across the board selloff in the boring names.
Data center narrative doesn't add up here. That news was days old, and $CEG stayed flat despite way more exposure. So what's the real driver? Rate expectations shifting? Something in the policy pipeline? Credit concerns?
Utilities don't move like this without a reason. Either the bond market is repricing something or there's regulatory risk nobody's talking about yet. Worth watching if this is isolated or the start of a broader defensive unwind.
Data center narrative doesn't add up here. That news was days old, and $CEG stayed flat despite way more exposure. So what's the real driver? Rate expectations shifting? Something in the policy pipeline? Credit concerns?
Utilities don't move like this without a reason. Either the bond market is repricing something or there's regulatory risk nobody's talking about yet. Worth watching if this is isolated or the start of a broader defensive unwind.