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A big options bet involving the utility sector could indicate a top in yields.
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One corner of the Additional Tier 1 market stands out in the global bond selloff, where rising rates are squeezing banks with large property-lending businesses, hammering their riskiest debt.
In recent trading, shares of Phillips 66 (Symbol: PSX) have crossed above the average analyst 12-month target price of $258.85, changing hands for $264.23/share.
In recent trading, shares of Delek Logistics Partners LP (Symbol: DKL) have crossed above the average analyst 12-month target price of $53.40, changing hands for $54.47/share.
Plus, it’s jobs day
The Swiss franc is grabbing the spotlight as a haven against European risk after concerns about France’s debt situation hit the region’s markets.
