Monty Rakusen The corrective phase in the stock market may have started in Q2, but there were red flags beforehand in Q1. Yields were climbing, the rally was slowing, and sector performance was reflecting a more risk-off environment. One of the sectors warning of a change was utilities, as represented by the Utilities Select Sector…
Lazy_Bear/iStock via Getty Images If there was one sector you didn’t want to have exposure to in 2023, it was the utility sector. Utilities were one of the worst performing sectors in 2023 by a wide margin. Here are the returns as compared to the S&P 500: S&P 500 2023 Return: +24% Utilities Select Sector…
xijian At the beginning of the year, I penned a cautious article on the Utilities Select Sector SPDR ETF (NYSEARCA:XLU), noting that valuations for utilities were absurdly high on both an absolute and relative basis. After massively outperforming in 2022, I believed that utilities would underperform in 2023. So far this year, the utilities sector,…