** Shares of rate-sensitive real estate investment trusts (REITs) and utility cos drop on Weds as yields surge on bond offloading
** Benchmark U.S. Treasury 10-year yield US10YT=RR last around 4.36% after hitting highest since Feb 20 in apparent large liquidations of debt US/
** Rising interest rates make dividend-paying stocks, also known as bond proxies, such as REITs and utilities less attractive, and increase borrowing costs
** S&P 500 real estate index .SPLRCR recently down 1.7% and declining for fifth straight day after hitting about 11-mth low
** Biggest SPLRCR pct losers on Weds include Alexandria Real Estate ARE.N and CBRE Group CBRE.N, down 5% and 3.4%, respectively
** American Tower AMT.N down 1% and Prologis PLD.N among biggest drags on the real estate index, down between 1%-2%
** S&P Utilities .SPLRCU sector last down 2.2% on the session, and also heading for five consecutive days of losses
** Biggest drags on SPLRCU are Nextera Energy NEE.N and Southern Co SO.N, down 3% and 1.6%, respectively
** S&P 500 .SPX index edges down on Weds after bruising 4-day losing skid amid escalating U.S.-China tariff war .N
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.