Shares of U.S. grocers, packaged food companies and supermarkets were lagging in the first three weeks of 2023, in a sharp contrast to last year, as their high valuations and unattractive dividend appeal pushed investors to U.S. Treasuries.
In a reversal of the trend, consumer staples sector has shed 3.4% in 2023, the most among the major S&P sectors, while the S&P 500 has climbed 1.5% on easing bets of a severe economic downturn. “You couple this with the fact that there are other yield alternatives now relative to the yield-rich sector of staples.”
The U.S. 10-year Treasury yield stands at 3.4%, while the consumer staples sector is offering a dividend yield of 2.7%, according to Refinitiv data.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: storeyspub - 🏆 16. / 74 Read more »