The renewable energy sector has been able to claw back some losses thanks to falling treasure yields, but the prospect of another Fed rate hike keeps share prices suppressed
Renewable energy stocks have been badly pummeled, underperforming their fossil fuel peers and the broader market in the current year, with the selloff accelerating in recent months thanks to higher interest rates and a hawkish Fed outweighing considerable backing by the Biden administration. The iShares Global Clean Energy ETF NASDAQ
, the world’s largest green energy ETF and a catch-all bet on clean energy, has crashed 26.2% in the year-to-date, incomparable to the 14.5% gain by the S&P 500 over the timeframe and 3.9% return by the S&P Energy Sector Index. The solar and wind energy benchmarks have not fared any better, with Invesco Solar ETF NYSEARCATAN having cratered -31.4% YTD while First Trust Global Wind Energy ETF NYSEARCAFAN has declined -21.0%.
has gained 3.7% over the past five trading sessions, coinciding with a 21 bps decline in the 10-Year Treasury bond yield to 4.65%, the biggest fall in interest rates since August. Battered Solar And Hydrogen Stocks Rebound The solar sector has been particularly badly hit thanks to surging financing costs for panel installations as well as persistent supply chain disruptions stifling residential and corporate solar system orders through much of 2023.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Ofgem considers energy cap rise to support energy companiesOfgem is considering hiking the energy price cap by £17 a year to support struggling energy suppliers
Consulte Mais informação »
Energy bill warning to all UK households as Ofgem considers hiking price capSevere energy debt could result in supplier collapsing according to the energy regulator
Consulte Mais informação »
Ofgem energy bill warning to all UK households as it considers hiking price capSevere energy debt could result in supplier collapsing according to the energy regulator
Consulte Mais informação »
European investors count the cost of US ‘meme stock’ clean-upBanks and fund managers face shorter window to finalise deals as US reforms its securities market
Consulte Mais informação »
Amazon's quick and easy to clean' George Foreman grill half price for Prime DayShoppers were left wondering 'how they ever managed' before snapping up one of the grills.
Consulte Mais informação »
Mrs Hinch fans share best way to clean mirrors without streakingHere is one of the best ways to clean glass mirrors without leaving streaks according to fans of the cleaning guru Mrs Hinch.
Consulte Mais informação »